t_bone,
Well, it has been my experience that hanging the beat-up fish in a basket is kind of like adding insult to injury. Some people have the opinion that putting the *winner* of the fight in the solitary confinement is more appropriate(grin). This allows the loser to recover in more space and in more comfort - assuming there are not other fish in the tank who will take advantage of its weakened state..
That said, the best advice would be to move the injured fish to an isolation tank. I understand you might not have that luxury, but think about it as an option. Barring issues about secondary infection (which would require a broad spectrum, gram negative antibiotic in an isolation tank) some people feel that slightly lowering the aquarium's specific gravity will help the injured fish manage its osmotic balance better - during a time when its skin has been breached. I wouldn't personally goo too low - perhaps 1.015, and of course, you can't do that with inverts present.
JHemdal
