No I think its the other way around. "Jive" was still in use up until the late 70s - The Bee Gees hit "Jive Talkin'" and a well-known scene form the comedy movie "Airplane" both being examples. It is/was almost always used in connection with speaking i.e "don't jive talk me"
The earlier musical dance/reference is the really just the Johnny Otis song which is actually just a Bo Diddley rip-off:
But apparently the use of the word "jive" to mean "talking nonsense" is the older, original usage, and the type of music/dance is named after the term, rather than the other way around. TIL.