Sauron had no power over the Three Elvish Rings. He'd still have beat their asses had he ever encountered them in battle, but as far as influencing them as he did the Nine or the Seven Dwarf Rings, no, he could not do that.
Take Lothlorien for example - it was nigh impossible to even go in there if you were evil due to the power of the Ring Galadriel held. Hell, Sauron without the One Ring probably couldn't even have made it in there - however, if he DID have the One Ring, he could march straight through there and lay waste to all of the elves.
In short, the Elven Rings were a threat to Sauron as long as he did not hold the One Ring. If he got the One Ring back, whether or not he had a hand in the creation of the Elven Rings would no longer matter.