Gaara and Itachi could definitely draw out the battle long enough for Madara to be sealed with his favorite word. He would probably even let them hit him with the sword; like he did Oonoki's jinton and such. With knowledge he'd probably take this, though.
Could go either way i think. Edo Madara could use meteors to crush them. If he doesn't use that and has no knowledge about Rikudoos weapons(what i highly doubt), he could get surprised and got sealed easily since he talks too much