You absolutely could, although a router would be better.
The biggest problem with using a table saw is that you end up with a flat bottom to the track. With a router you could better get the radius on the bottom of the track that allows the glass to slide so much better. This reduces the contact patch but also allows small amounts of substrate to settle out of the way of the glass - important with reptiles.
Also, there are only a few types of readily available woods that lend themselves to sliding glass track. There is a certain hardness and grain structure that is desireable. I don't remember what they are but assume they'll be pricey.
But to answer your question, I have never tried this for a reptile enclosure.
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Current snakes:
0.2 Gonyosoma oxycephala - (Silver/Yellow)
3.3 Gonyosoma oxycephala - (Green)
2.1 Gonyosoma janseni - (Black)
3.3 Gonyosoma janseni - (Black & Tan)