That. ^
FYI, the fuse won't do anything. Fuses blow very slowly, milliseconds. Transistors blow much faster, hundreds of microseconds perhaps.
Well, I mean the fuse will still protect the circuit, but only after the transistor has failed shorted, allowing full fault current to dump into the load, through the fuse, clearing it.
A better solution is to use a current sensing circuit, and when current goes well beyond limits, simply turn off the transistor for some time. Alternately, a much bigger transistor can be used, that can pass enough current to clear the fuse (but this will be somewhat more expensive, and will have much more gate capacitance, so will switch slower). Also, a bigger transistor can be used in a different way, either with an analog control circuit (a few transistors) or an IC (typically called a hot-plugging, wired-OR or load switching controller), to limit current actively rather than permitting fault currents to flow. Downside is this can dissipate a lot of power (not quite as much as the unlimited fault condition), so some other means of protection is usually a good idea (a time delay or thermal cutout).
Tim