No, there is no direct way to do it.
There are some workarounds to do some level of sorting using labels and some of the search features, but to specifically get the alphabetical-by-sender view is not really doable. The simplest (albeit inadequate) analog would be to type "from:[sender's name]" into the search box to pull up an individual person's emails.
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'He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me.'
-TJ
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