Bungee cord/ropes are a great alternative to do battle rope drills. Since the cord is in air at all times, the momentum acts slightly different than the battle rope drills and you will have to squeeze the rope much harder at the highest points (peak positions of) of the waves. The best way to understand this is by giving this this workout a try. Drills with the bungee cords will blast your forearms. Among Judo practitioners the same type of drills are performed with bungee cords or resistance bands. Bungee chords are a little cheaper than ropes depending on where you purchase them so it might be a great substitute if you are trying to save some money.
The video below, is training footage, in which Zugaj brothers use bungee cords for battle rope drills. Zugaj brothers are very successful Greco Roman wrestlers who placed at the European Games and at World Championships in Greco Roman Wrestling. In this video you will see the Zugaj brother perform kettlebell swings, back flips, planks with resistance bands, box jumps, kettlebell squats, good mornings with bands, kettlebell clean and jerks, multiple wrestling partner and solo drills, bungee chord hand over hand pulls, bungee cord waves/alternating waves with squats.