Wavelanding

From SmashWiki, the Super Smash Bros. wiki

Waveland is an advanced tactic similiar to wavedashing. Wavelanding is performed after a character jumps to his/her peak and descends. As the character is approaching the ground the player presses L or R, initiating an air dodge. The ground then stops the air dodge animation and begins a normal wavedash. This is especially useful for moving around platforms quickly and for getting onto the stage quickly.

It returns in SSBB but you need to hold the direction you want to waveland to and air dodge while still holding the direction just before hitting the ground. It is much less effective in Brawl.