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Well, no one will support you destruction of a Volvo, but it's been done before. The one I know of happened to also be an '81, with LOTS of rust.
Is your car a rusty pile of junk? That's a good reason to chop the roof off.
Are you planning to add any rigidity to the body to make up for the missing roof? You will need to do (or have done) some welding because the car will be very flexible. For the seat belts, you could just install a roll bar and anchor a 4pt belt to the rear floor where the rear seat belts are anchored.
Here's some inspiration:

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Volvo 240 Links | Parts For Sale
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