Welcome to sunny warm Victoria, Windy. (read in a post that you were coming over - may want to consider changing your name to "Chillymiller)
I'm no expert on the area, but I think you can sail Rye (Port Phillip side) port tack out, on this direction. You could check it on a Melway or Google Earth to see exactly which direction the beach faces.
Obviously you won't get proper waves like in WA, but the guys who go there reckon it's pretty good, as there are shallow sand bars that create flattish water on the inside and some reasonable wind driven waves/chop for bump and jump further out.
Others on this site will be able to tell you more about Rye, but it gets better wind on Northerlys than other areas in the bay.
Hope you get some good sailing!