Heat oil in saucepan over medium heat. Add onions and jalapeno; cook until onions are tender and translucent. Add tomatoes and cook additional 20 minutes. Add hot sauce and basil; season to taste with salt and pepper. Reserve sauce warm.
Combine Creole seasoning and flour. Reserve.
Coat alligator tenderloin with seasoned flour and shake off any excess. Coat each piece with buttermilk and toss in seasoned flour a second time. Shake off excess.
Fry, preferably in a cast iron skillet, until golden brown and drain on paper towels. Season to taste with salt. Serve with spicy tomato sauce on the side.