In a medium saucepan, combine rice, coconut milk, 3/4 cup water and 1/2 teaspoons salt. Cover and bring to a boil; reduce to simmer; cover and cook until rice is tender and liquid has been absorbed, about 25 minutes.
When the rice is almost done, combine fish sauce, soy sauce and sugar in a small bowl; set aside.
Heat a cast-iron skillet or wok over high heat. Add oil and heat; add garlic and half the chilies. Cook, stirring constantly, 15 seconds.
Add beef and cook, breaking up meat with a woooden spoon, until completely browned, about 4 minutes.
Add soy mixture and cook 30 seconds. Add basil and remaining chilies and stir to combine.