You often can recover from a sliding wheel by taking advantage of a bike's natural ability to be stable when going straight.

If you're going straight and the wheel skips to the side, just relax and wait for the bike to return to rolling straight ahead.

If you're in a turn when the wheel slides, instantly turn the bars in the direction of the slide. This will stop the slide, get the wheel tracking again, and it will open the radius of the turn. Once you regain control, you can continue your turn. The trick is reacting quickly enough to the slide.