Baseline Inbounding Question?

OK, here's the situation:

Your team just scored a basket in the last minute of a tight game. Your team is applying full-court pressure, denying the inbound pass. (Remember that the inbounder can run the full length of the baseline) If the inbounder with the ball cannot make a clean pass, can he pass to a teammate on the floor who just ran out of bounds, but he was fully out of bounds before he caught the ball? The player who caught the ball out of bounds then proceeds to inbound the ball. Is this allowed?

If this is allowed, then does his 5 second inbound time restart?

I saw this happen near the end of the Cal vs. UCLA game. Cal had to inbound, and they did just what I described above.