No. It is a fake trailer!But it is very funny!I would say it is a kind of short film!
The fight/dance techniques of Capoeira are popular in Brazil and other places around the world, and in this fake trailer for Dirty Dancing 3: Capoeira Nights, the Dirty Dancing trilogy looks to bring the phenomenon to the states. Watch the Funny or Die video, starring Camilla Belle and Jesse Williams, after the break.
http://www.movieviral.com/2010/10/02/viral-video-dirty-dancing-3-capoeira-nights/