In the 1890s in San Fransciso there was a popular hooker named Helena who was recognizable in that she always carried a small handbasket instead of a purse or handbag; hence she acquired the nickname "Helena Handbasket". Sailors arriving in the port would often say things like "I'm gonna look up Helena Handbasket tonight" or in announcing their intention of what to do after a night at the bar, "Now I'm going to Helena Handbasket", which by association with the sinful nature of the activity involved, became the mondigreen, "going to hell in a handbasket".
Hey dude, if you don't stop chasing so much pussy you're going to hell in a handbasket.