I have so much basil in my garden and have dried some, but still have loads. Can you freeze the fresh leaves?
Check out the herb society's website: they have a neat idea of how to preserve fresh basil in salt.
This blog has a cool technique -- the oil seems to protect the leaves from oxidizing: http://bit.ly/SoyUZ
I have had success processing the leaves and then preserving with a little olive oil - in addition to freezing in larger containers, large ice cube trays work really well.
Basil freezes really well. I learned this from a sicilian man who owns a pizza place near me. I don't do anything to it, just pluck the leaves and put them in a freezer bag. I found a bag in my freezer that was two years old and it was still very fragrant.
pesto without the cheese and garlic (they taste icky after being frozen) and freeze in ice cube trays, then pop out into a zip lock bag. Make sure your family likes pesto first.