What happens when you perform Izanagi/Izanami with Rinnegan?
I don't think you can perform those Kinjutsu using Rinnegan. They are unique to Sharingan. As for his eye that Madara got after decades, it was by using the Hashirama cells. 
He collected those cells during his fight with Hashirama and cultivated them during his time with Black Zetsu.

So to answer your question, NO you can't perform Izanagi/Izanami using Rinnegan.