If I needed 5V and 3.3V for my controller and sensors, I might consider 2 power supplies from the 30V feed, one for the controller and another for the sensors, especially if the controller is critical and must never crash. The one for the sensors would have additional current and voltage protection and limiting and have the ability to shut down or reboot. I would say the sensor power supply should only be turned on if the main controller power supply is up and running, and some voltage regulators do have an ENABLE input to turn them on/off to do this.
You might want to look at some USB Power and Protection IC's since USB is designed for 5V bus. This app notes shows the polyfuse and overvoltage protection concept.
https://www.littelfuse.com/data/en/Application_Notes/ec616.pdf
There are some smart power switch IC's available that have current protection and feedback to a microcontroller when the over-current happens. If you sensors are below 50 / 100 / 200 mA, then consider these types of intelligent MOSFET devices or some type of similar concept.
I've used these devices in the past for power to a smartcard, but they are limited to either 50mA or 100mA.
https://www.fairchildsemi.com/ds/FP/FPF2004.pdf
Another device can supply 200mA plus has reverse current protection:
https://www.fairchildsemi.com/ds/FP/FPF2174.pdf
There is a voltage drop through the above smart switches, so you might need to run the power to it a little higher, thus it depends on the operating voltage range you need at your sensors.
You should browse the Fairchild web site for other similar products too.
Hope this gives you some ideas of things to consider.
P.S. You don't specify any details for the data lines: speed, logic type, ... but you should protect them too. You might be able to use IC chips that are meant to protect other common buses, like USB / RS232 / HDMI / Video / eSATA / SmartCards / SD Flash / ...
--- Enlightenment ---