The on-loan Sunderland defender was sent off on Tuesday night after reacting to racial taunting from a section of the Serbian fans.
"I would have loved it if England's players had walked off the pitch, with their heads held high, and threatened not to play until the stadium was cleared," said Holloway in his column in The Mirror.
"I could have cried for Danny Rose when he was sent off for the most inoffensive reaction to the most offensive provocation.
"Upset turned to anger on Thursday when I heard that the Serbian FA had attempted to lay the blame for the mass brawl at the end of the game on the shoulders of England.
"The Serbs remind me of the alcoholic who thinks it is normal to hit the bottle first thing in the morning; or the gambler who puts the mortgage money on a nag because it's wearing his lucky number. Just like addiction, racism is an illness."
Rose was sent off after kicking the ball away in anger due to the abuse he was receiving.