Depending on the number of players on your team, make three or four lines along the baseline, and the same number of lines just above the free throw line extended. Each player along the baseline has a ball and makes a good sharp pass out to the perimeter player. He then closes out on the ball handler, yelling "Ball! Ball! Ball!". Use correct technique. The receivers will similarly pass back to the next group stepping inbounds and make a close out. Repeat.

To learn the correct close out technique.

You can also incorporate passing techniques (chest pass, bounce pass, etc.) into this drill, and also make sure receivers are catching the ball with a one step stop into the triple threat position.