Drawing graphs of bounded crossing number
If a graph has bounded crossing number it can be drawn with that number of crossings in the polyline model (i.e. each edge is a polygonal chain, much more common in the graph drawing literature than bounded-degree algebraic curves) with a bounded number of bends per edge. It's also true more generally if there is a bounded number of crossings per edge. To see this, just planarize the graph (replace each crossing by a vertex) and then apply Fáry.

Now, to use this to answer your actual question, what you need to do is to find an algebraic curve that is arbitrarily close to a given polyline, with degree bounded by a function of the number of polyline bends. This can also be done, fairly easily. For instance: for each segment $s_i$ of the polyline, let $e_i$ be an ellipse with high eccentricity that is very close to $s_i$, and let $p_i$ be a quadratic polynomial that is positive outside $e_i$ and negative inside $e_i$. Let your overall polynomial take the form $p=\epsilon-\prod_i p_i$ where $\epsilon$ is a small positive real number. Then one component of the curve $p=0$ will lie a little outside the union of the ellipses and can be used to substitute for the polyline; its degree will be twice the number of ellipses, which is linear in the number of crossings per edge.