To do that, you’d need to cancel the jump with a roll, then cancel the roll with a special move. Two things wrong with that – you can’t cancel the jump with a roll, and even if you could, the second you did you’d be on the ground again (making you throwable). You could only set that situation up with N-Groove in the first place, and no one that I’ve ever seen uses N-Blanka anyway (though they should).
The only situation where I can get this to work consistently for myself is against the local S-Groove guy at FFA and his S-Zangief. The second his life hits red, I know he’s going to do wakeup 720s. I just spin the stick with my Kyo and hit him out of him with my rekkas. I remember the first time I did it to him, he had no clue what happened, and he got a laugh out of it. I would say I’m 75% proficient in doing it in that particular instance.
I’ve never even tried to do this outside of casual play, nor do I intend to. The risk is too high and the window of opportunity too small for a throw I can just small jump out of and land, then hit a big combo.