It's legal for me. First touches are re-setting the ball (which I think are just part of the 'sell' by that player).
The problem with saying it's an IFK for those touches, is that nobody would give that IFK until the other player ran off with the ball. So you're making that decision several seconds after it happened. The second player did nothing wrong, if anybody did (and it is up to referee judgement), it's the first player. But we're not even thinking about penalising him until the 2nd player is involved.....which still isn't a great situation to be in.