can a serial port buffer be implemented by a linked list aargh for the 8052 using malloc aaaarrrrrgggh and free?
This way we get the advantage of memory efficiency and reduce the risk of losing precious serial data.
You are mentioning the two methods that are the worst to use in a small memory design.
Linked lists are cumbersome at best and wasteful at worst. Malloc require that you reserve the maximum buffer space ever used for that purpose, so why not just make n buffers.

Erik