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World Wars 1 and 2 came as a result of powerful nations drawing more countries in through alliances.
E.g. In WW1, Britain only entered the War because Belgium was attacked, and Germany invaded France (the German Schlieffen Plan compelled Germany to attack France if ever it was opposed by Russia) because it's ally, Austria-Hungary, was fighting Russia.
The Alliances between these nations pulled the World into the Wars - particularly because of Britain's Empire. That is what makes a World War - strong powerful nations figthing across an immense battlefield.
The situation in the Middle East is not the same, for the following reasons.
Firstly, it is not a war between states. The US and Coalition forces are occupying an allied state - Iraq is not ruled by Saddam - it's government is pro-USA. The fighting that occurs is between a Military force (the Coalition armies) and an Insurgent force. These Insurgents are not representatives of any one nation. Therefore, it is a Guerrilla War.
Secondly, as a result of the above, strong armies are not opposing each other. Military power is held very much by the Coalition, as they have the resources and manpower of their developed nations behind them. Thus, any War would not last long. Remember that the Coalition forces destroyed the previous Iraqi Army very swiftly.
Thirdly, the USA and the opposing nations in the Middle East are EXTREMELY reluctant to enter into military conflict with one another. Both sides know that it will be very damaging in all respects - politically, socially and economically. What would the benefit of going to war be?
Besides, Iran and Syria both know perfectly well not to anger any of America's Middle Eastern allies, and the attacks by Hezbollah on Israel were out of control of the Lebanese government.
In summary, a world war would not arise in the Middle East because the conditions do not exist for such a war to exist. The war would by contained within the Middle East, and would be over quickly.
BUT you have to look at the fact that these "terrorist" countries are looking to not only attack America and parts of Europe but also other parts of the World. Eventually someone is going to get enough of this, rally and gain allies and began an attack.
I believe in the near future it's going to be inevitable. Not only is it going to be inevitable but also It's going to be a nuclear WW3.