LM2575 as Li-Ion charger
Yes, the same kind of current-sensing based circuit is possible to be used, but it will be a bit harder to make it work, since the feedback loop of DC-DC converters is more finicky.

Also, while the DC-DC converter improves efficiency, note that you still are wasting a ton of energy in the current sense resistor (the 1Ω your schematic). If you charge at 1A, this is ~0.65V * 1A = 0.65W just for current sensing!

There are better ways to charge batteries using dedicated DC-DC converter chips which have a current sense input as well, ST's L6902 being one example. Just search for converters that also have current limiting built-in.