I think it can be done that way yeah but in order to yield a uniform-density of points on the surface of the sphere there's some pre-correction (maybe a sqrt or something? I can't remember) that's needed before feeding the 'uv' values to the trig functions to make 3D positions. Otherwise points will 'bunch up' and be more dense at the poles I think.
Edit: see @srean's excellent explanation why that won't do.