Yes, however someone has noted that you cannot gift a token, so we can simply change the token to be an equal amount of gold that the OP could them buy a token from the AH on retail.
So, here’s how the transaction would look:
OP on Classic gives a specified amount of gold to another player on Classic.
The other player on Classic gives a specified amount of gold on Retail to the OP’s character on Retail.
OP buys a token on Retail with that gold on the Retail AH, and can play classic for another month.