How to increase my basketball IQ?

A lot goes into having a good court sense or basketball IQ, as you put it. If you truly have sound fundamentals, that will help increase your bball IQ on the court. For example, if you can dribble strong with both hands while looking up, it gives you a huge advantage to survey the court and see the big picture. Court sense is diminished when a player isn't in control out on the court, but rather their opponent dictates what they should do instead of the other way around. A huge aspect of having good court sense is the ability to do two or three things at once while under pressure.

I'd look at coming up with a routine that challenges your mind and dexterity skills. Ganon Baker has a lot of drills online where he's forcing the player to do two things at once. Drills where you dribble and have to catch/toss a tennis ball. Drills using two basketballs on Mikan drill (3rd link).

Anything you can do to increase your multitasking abilities out on the court. Do drills that force you to make quick decisions, use both hands, and do two or three actions in rapid sequence. Again, Ganon Baker is one of the best I've found for drills like these, just have to do a little research.

http://www.youtube.com/watch?v=8Y5P1ZtAK9I
Gannon Baker tennis ball drill

http://www.youtube.com/watch?v=7bYHzo46N8A
Passing drill with tennis ball

http://www.youtube.com/watch?v=ycNqi-VTL5Q
two ball mikan and reverse mikan starts at 1:35 in vid

Hope this helps.