In a large saucepan, heat oil over medium heat. Add onion and garlic; cook for 3 to 5 minutes or until onion is tender, stirring occasionally.
Stir in tomatoes, wine, vinegar, salt and pepper. Bring to boiling; reduce heat. Simmer, uncovered, for 20 to 25 minutes or until sauce is slightly thickened, stirring occasionally. Stir in whipping cream and basil.