That's correct. Following the law would even be a more radical path than he has previously stated. The law allows a total ban on immigration if he so chooses, for example. All well, everyone has their favorite sound bite I guess.
To add about the law already on the books that I see posted here time to time.
There are time limit restrictions set, depending on severity of recidivism, when someone found illegally inside the United States and deported can legally come back.
The perpetrator who has been found illegal inside the US can be restricted to come back to the country after is 1, 3, 10 years, or banned forever.
So when Trump says they can come back legally he’s talking about this.