No. I don't remember the names of the rules, but what you wrote is incorrect. "Nu" is no, "mă" refers to oneself, the person who is talking, "uitați" is second person plural for "forget". If it would be a sentence in which the verb is reflexive "Nu mă uit" it would be translated as "I am not looking". „(ei,ele) Nu se uită — They are not looking". Because of the conjugation of the verb in Romanian, the person who reads knows about whom the sentence is. That is why I've put the person in Romanian between parentheses.
„Mă uit" could mean only "I am looking" in the present tense (Romanian). If its the past tense „M-am uitat" it could mean "I looked" (at, inside, for something) or "I forgot (to count, to consider) myself (together with the other ones)", but in this last situation we would include „pe mine", „M-am uitat pe mine/ Pe mine m-am uitat". I would say it is safe to presume that „Mă uit" means "I am looking".