The first and most important part of your code would be to get rid of any ViewBag/ViewData (which I personally consider as cancer for MVC applications) and use view models and strongly typed views. 

So let's start by defining a view model which would represent the data our view will be working with (a dropdownlistg in this example):
public class MyViewModel
{
public string SelectedItem { get; set; }
public IEnumerable<SelectListItem> Items { get; set; }
}
then we could have a controller:
public class HomeController : Controller
{
public ActionResult Index()
{
var model = new MyViewModel
{
// I am explicitly putting some items out of order
Items = new[]
{
new SelectListItem { Value = "5", Text = "Item 5" },
new SelectListItem { Value = "1", Text = "Item 1" },
new SelectListItem { Value = "3", Text = "Item 3" },
new SelectListItem { Value = "4", Text = "Item 4" },
}
};
return View(model);
}
}
and a view:
@model MyViewModel
@Html.DropDownListForSorted(
x => x.SelectedItem,
Model.Items,
new { @class = "foo" }
)
and finally the last piece is the helper method which will sort the dropdown by value (you could adapt it to sort by text):
public static class HtmlExtensions
{
public static IHtmlString DropDownListForSorted<TModel, TProperty>(
this HtmlHelper<TModel> helper,
Expression<Func<TModel, TProperty>> expression,
IEnumerable<SelectListItem> items,
object htmlAttributes
)
{
var model = helper.ViewData.Model;
var orderedItems = items.OrderBy(x => x.Value);
return helper.DropDownListFor(
expression,
new SelectList(orderedItems, "Value", "Text"),
htmlAttributes
);
}
}