Are there any methods of limiting exposure of hazardous fumes and odors emitted by heating the plastics? When using thermoplastic-filament, this can be potentially hazardous, since constant printing can emit hazardous fumes and odors that may be emitted by heating the plastics.

I understand it normally should be used in well ventilated areas. However I would like to use it heavily in the basement which is not well ventilated.

Are there any practical methods of limiting such exposure? For example locking it in some special box, covering it or suck the odors? Would that help?

Do you have any experience doing so?
Using negative pressure ventilation and a suitable organic filter will limit your exposure to toxic compounds, but won't completely remove them from your environment.

Enclose your printer in as air-tight a box as you can manage, then use a fan to suck air out of the box.  This negative pressure will ensure that any leaks in the box will not allow gasses to escape.

The air should be blown through an organic filter.  This might be done with face mask filters for painting, for instance.

Additional filtering may be done depending on the compounds you expect the printer to produce, but the ideal situation is to set up a ventilation system to the outdoors where the products cannot concentrate and harm anyone.

Another poorer option is to simply wear a proper organic filter mask yourself.  It's not as good, since the compounds can spread through your residence or remain in the air and be inhaled when you aren't printing.