Heat oil in medium skillet over medium-heat. Add onion; sauté until just golden, stirring occasionally. Reduce heat to low and add vinegar and sugar, then sprinkle with sea salt and pepper. Stir until vinegar has almost evaporated, about 1 minute. Cool.
Place figs in small bowl. Pour 1 cup boiling water over; let soak 45 minutes to 1 hour. Drain figs; place in small saucepan. Add port, 2 TBSP sugar, 1/8 tsp salt and 1 tsp red wine vinegar; bring to boil, stirring to dissolve sugar. Reduce heat to medium. Simmer until figs are tender and liquid is syrupy, about 20 minutes- stirring occasionally. Remove pan from heat; cool.
Combine ricotta, 1 tablespoon oil, and cream in medium bowl and beat until fluffy. Season with sea salt and pepper. Preheat broiler. Brush baguette slices some olive oil. Broil bread on both sides until just beginning to brown on edges. Transfer to serving plate. Spread 1-2 tablespoons ricotta mixture on each bread slice. Spoon 1/8 of the prepared figs over; top with 1/8 of the onion mixture. Sprinkle with Parmesan and basil.