You can do the same thing in other bases. With decimal, you would have 9's complement, where each digit X is replaced by 9-X, and the 10's complement of a number is the 9's complement plus one. You can then subtract by adding the 10's complement, assuming a fixed number of digits.
An example - in a 4 digit system, given the subtraction
0846
-0573
=0273
First find the 9's complement of 573, which is 9-0 9-5 9-7 9-3 or 9426
the 10's complement of 573 is 9426+1, or 9427
Now add the 10's complement and throw away anything that carries out of 4 digits
0846
+9427 .. 10's complement of 573
= 10273 .. toss the 'overflow' digit
= 0273 .. same answer
Obviously that's a simple example. But the analogy carries. Interestingly the most-negative value in 4-digit 10's complement? 5000!
As for the etymology, I'd speculate that the term 1's complement is a complement in the same sense as a complementary angle from geometry is 90 degrees minus the angle - i.e., it's the part left over when you subtract the given from some standard value. Not sure how "2's" complement
makes sense, though.