A system for affecting, augmenting, or enhancing erection of the penis includes an elastomeric sleeve designed to comfortably and securely encircle the base of the penis. The sleeve is provided with a pair of inflatable chambers, a dorsal insert, and a ventral insert which are configured to apply focal pressure on the dorsal penile veins, while avoiding undue constriction of the corpora cavernosa or compression of the urethra, dorsal penile arteries, or nerves. The system includes fluid transfer apparatus having a reservoir for pressurized fluid, a pump, and valves for controlling the flow of fluid to the inflatable chambers. The system also includes an inflatable sealing apparatus which, when used in combination with a conventional vacuum erection tube, forms an airtight seal between the sleeve and the open end of the inflatable sealing member.