Phymyxt, if you love basketball, don't give it up! However, you should asl your doctor if there's a good knee brace that would really lock your patella in place while you play. if not, then you might have to consider surgery-
Here's a useful discussion about surgical options for basketball players with dislocated patellas that you might want to review.
BTW, if you do find a good patella-stabilizing brace, please post about it- I personally would like to know as likely would many others on this board-