In a medium saucepan, combine rice, coconut milk, water, and salt. Let mixture come to a boil and then reduce to a simmer and cover. Let simmer until all the water has been absorbed and the rice is nice and fluffy, about 20 minutes.
While the rice is cooking, heat a cast-iron skillet or wok over high, add the oil, and toss in half the hot peppers and garlic. Cook for about 15 seconds. Turn the heat down to medium-high and add the beef and cook, breaking up with a wooden spoon, for about 5 minutes, until just cooked through.
In a small bowl, stir together fish sauce, soy sauce, and sugar. Stir this mixture into the beef and cook for another 30 seconds.
Add basil, tomatoes, and remaining peppers and stir to combine. When basil is starting to wilt, remove pan from heat, about 30 seconds.
Serve coconut rice in bowls and top with beef basil mixture. Garnish with lime wedges, crushed red pepper, and Sriracha sauce, if desired. For extra heat, add additional chopped peppers.