From the context of the real numbers we know that the square root of $-1$ is not a real number. Because of this the historical way we approach this is that the concept of complex numbers were created to give meaning to the nonexistence of $\sqrt{-1} = i$ and study the potential implications of such a value. We even knew beforehand how the square root of $-1$ as it existed as a concept. It was merely that it did not exist as an intermediate vale.
When that set was created, certain properties were different from the set of real numbers and other properties (such as ordering) ceased to exist. If some superset of the complex plane were created to give meaning to another currently 'nonexistent' operation, what algebraic properties would we expect to retain? For instance, if one wanted to extend nonexsistent limits into being for which the one sided limits exist, would you only assume them equal to themselves or would you make them equal to limits with similar shapes around the point? Of course that is a hypothetical example, not to be taken as an actual request. The details of that would depend on whether geometric equivalence was the equalizing factor or the sequence used to compute the limit.
I know I have written two questions here. So to summarize:
First: what extensions upon real numbers currently exist other than the complex plane?
Second: How would one go about creating a new extension, and how do people usually work out their properties aside from creative thinking? Is there a formal method that can be used to determine the properties of an extension coming from attempting to give meaning to an intermediate value that is "undefined"?
Note: I couldn't come up with the proper tag so some guidance would be appreciated. I was thinking the tag "equality" or "extensions upon real numbers" or "monexistence" would be good, but those are not available.