So, I know I asked about possible worlds for Blacklight in the last chapter, but I'm going to save that for a later chapter, after gathering some responses. Instead, this idea is focusing on an entirely new world, one that I've never used, at least in a standalone chapter. We are going to be going to the world of monsters and gratuitous fan-service, Rosario+Vampire.
I hear you ask what could possibly be changed about this story, well, as evident from the title I'm turning Tsukune into a Dragon, not just any old dragon but Great Red or at least his equivalent. What I mean is that he'll be the strongest entity in the world, with his power at a level similar to the Dragon of Dragons. He does not need to be Great Red specifically, just a dragon with that kind of firepower. That means you can customize his draconic appearance however you want, my personal thought was to follow Inner Moka's color scheme with silver scales and ruby red eyes.
So, how does a being with near limitless amounts of power end up at a school for monsters? Curiosity, pure and simple. Similar to the original plot, a flyer ends up in Tsukune's cave waking him from his eons long slumber. He then decides to go and see how the world has changed in his absence, starting with Yokai Academy. Now, I think he should have a different name and take Tsukune Aono as a pseudonym or alias, to better fit in to the new environment.
Now let's talk about how he'll interact with the female cast. Starting with Outer Moka: Tolerates her antics i.e. bloodsucking, finding them refreshing after most are terrified after learning who he is. Inner Moka: Finds her personality attractive, as she represents a lot of the qualities a Dragon likes in a woman. Kurumu: Distrusting and angry at first due to her attempts to manipulate him with her Charm, he'll slowly grow to accept her apologies and then her affections. Yukari: A child, what else do you want? Mizore: Feels sorry for what happened to her, but doesn't appreciate her attempts to freeze him. Things like that, and a distinct lack of shame or embarrassment for any erotic situations that may appear.
How about when he'll release his power or show his true form? Well, let's list a few moments/enemies. Definitely Alucard, as he is the big bad of the series. Probably any of the major antagonists of the different arcs of the series, you could even make new villains for him to show his power if you so desire.