Not in my experience. If a woman does interpret a compliment as an approach, they are very unlikely to act as if that gives them carte blanche to behave proprietorially towards the complimenting party from that point on. It's hard to imagine the experience @DoreenMichelle reports happening to a man.

Some 'compliments' are of course thinly-disguised acts of creepiness. Different category altogether, and dead easy to spot for people within a normal range of emotional intelligence.

I compliment people (men & women alike) quite frequently. Usually on their work, sometimes on their behaviour in other respects, less commonly on appearance. When directed towards a woman, not once has this been interpreted (AFAIK) as a come-on or unwarranted approach. By and large people can tell when you're being friendly with a light touch, and without an agenda.