Agree with Tanza. A dog like this should never be trusted off leash unless in a confined area with a good fence, and that means 6 feet tall and not chain link (the little buggers can climb!)
I would not be touching him when he is sleeping or resting comfortably. You are not in that place yet, if you will ever be. As Tanza said, make noise to wake him up, then call him to you. Yes, I definitely think he would overreact if you touch him, particularly with an object (he would feel the difference).
The other thing.....you want to be as "matter of fact" with him as possible. You also do not want to be hesitant with him. If you are going to do something, do it. Obviously not in an abrupt or aggressive way, but not in a way that tells him you are afraid of him. BTW, his running around crazily is a Basenji trait known as the B 500. Most of them do it, usually running madly, jumping on something like a couch or chair, banking off the back, and taking off again. They get quite wild doing this, and if he isn't causing any harm I would just stand back and let him blow off steam.
Teach him to walk nicely on a leash, no pulling. Do not use a flex leash, just a normal 6 foot one, and be aware if it is leather or a chewable material, some Basenjis are bad for biting the leash in two when you aren't looking. To get him to walk nicely there are a couple of things you can do. If you get into clicker training you can teach him to target (put his nose on a target, typically a stick with a round end, but could be anything, including your hand) and have the target next to your side, so at "heel" position. When you want to allow more freedom, make sure to move forward only when he is not putting pressure on the leash. Pulling = no forward motion. Slack leash = we continue on our walk. He's smart. He will figure it out.
You can find out a lot about clicker training here.