No, it's very different.
Yondaime teleported because he knew that his students were in danger (he explained that when the kunai was flying he was alerted. And you don't send kunais flying just for fun.) How did Madara know that Sasuke was in danger?
Yondaime knew where he had to teleport to (again thanks to the magic kunai). How did Madara know where Sasuke was?
So, Yondaime saved his students by virtue of a surprise attack against fodders while being alerted of danger and the whereabouts of his students. Madara apparently went in right as a Kage level ninja was trying to obliterate Sasuke (and the attack must have reached Sasuke otherwise why would he be knocked out? So why is Madara unharmed if he was there?), went out (without anyone noticing he had been around, Karin only sensed Sasuke disappearing), went back in for extra lolz.
Well now that that's out, I'll just go with a more realistic construction since from what we've seen of Madara's teleportation it seems odd he did it that fast (it seems to take a couple of seconds for him to teleport his body). He likely was alerted by Zetsu of Sasuke's whereabouts. (I remember him telling Zetsu he'd watch the recording of Itachi's fight, so perhaps Zetsu showed the scene to Madara) Then he created one of his wormholes below Sasuke and had him fall in it as he got hit (with susanoo protection) by FlyingSuchiMan's sphere in a cube attack.
But will it ever be explained?