Born in Lakeland, Florida, Waldon graduated from Boys High School in Brooklyn, New York in 1954 and went on to earn a B.S.

In a special election to fill the New York's 6th congressional district seat in the U.S. House of Representatives vacated by the late Joseph P. Addabbo, Waldon was elected as a Democrat to the 99th United States Congress in 1986 and served from June 10, 1986, to January 3, 1987.

Waldon became the first elected African-American member of Congress from Queens, New York.

In 1998, he tried to regain his congressional seat after Flake had resigned, but was defeated in the special election by state assemblyman Gregory Meeks.

In June 1999, he was nominated to the New York Court of Claims;[4] and was confirmed by the State Senate in December.