Out of bounds question

[marcovan]

On a made basket, I know the player can run the baseline to pass. Here is another scenario that I'm not sure about

Basket is made by opposing team, player 1 grabs the ball and calls out his play, player 2 runs out of bounds, player 1 passes him the ball once player 2 is completely out of bounds, player 1 goes inbound after making the pass to player 2, player 2 inbounds the ball to player 1. Is this legal?

Thanks