Not really...this time it is following the rule to the letter. You cannot dribble the ball without possessing it. Therefore, if a player is fumbling the ball, he doesn't really have possession.
Using your same standard, wouldn't it be a travel anytime a player is going for a rebound and tips it, and after landing, has to jump/move positions to gather possession of the ball? That scenario happens all the time, and although you cannot pass to yourself, but it isn't a travel b/c the player must gain possession for that to be a travel.