No, there was no way Mendes could have won that fight. There is no way he could take that fight into round 4, much less win it. Aldo won't get so tired unless you put pressure on him, which Hominick and Florian did, but Mendes didn't. Even tired, he would still land vicious leg kicks and Mendes wouldn't be able to continue. Towards the end of round 1, before the KO, I could see that fight was not going to make it past 3 rounds and felt confident Aldo would get his first stoppage in the UFC.
Before the fight, I thought Mendes had a shot. But a couple minutes into the fight, it was clear to me that his gameplan was completely failing and he was screwed.