Each state gets a number of electoral vote that matches the number of Representatives and Senators in their state. The senator thing throws it off a bit, but number of reps is based on population.
No, it's not that close. The small number of reps plus the huge variation in state sizes means that it's not particularly close even before considering the distortions from Senate seats. There is, IIRC, almost a 2:1 ratio between the maximum and minimum population-to-representative ratio among the states.
This used to be true because, as more population was added more Representatives would be added to the House, but as I recall it's been quite a long time since new seats were added to the House.
Each state gets a number of electoral vote that matches the number of Representatives and Senators in their state. The senator thing throws it off a bit, but number of reps is based on population.