Some local drag boaters have done a similar thing, except they started with a Chevy Lumina as their base vehicle. Here's a video someone put on YouTube http://www.youtube.com/watch?v=eBNq0NlEp78&feature=related about 30 seconds in they start to load it on the tow vehicle.
But they don't run down the road with it.
THey haul the car in a trailer, and just use it to launch n load.
Could have done the same thing with an atv and trailer.