How about this, Rondo Trade Exception + 2015 Clippers Pick, 2016 Cavs Pick for Larry Sanders.
Wish we had more information on why Sanders is on leave.
This could either be a bargain or a mistake depending upon the reason. Hard to determine the risk without the facts.
The picks aren't the issue, it is the final 3 years of Sanders contract that could be worrisome. If it is something that I think can be dealt with, then I would do this without hesitation and maybe even toss in a couple of seconds or let them have the better of the Cavs/Mavs pick.
However, without knowing the facts, I'd be more comfortable giving up Wallace and the two picks you suggested. And if Milwaukee were to jump at that, I'd probably be extremely worried about what I just bought.