Im fairly confident this won't work. There are other "hooks" and "security" measures in place. Albeit I would concede that I haven't tested this.
Id reverse the question though and think backwards outside the box. For the time and hassle and issues (Such as memory issues, firewalls, and other things) that your going to run into with trying to install it on a USB drive and carry it around, you could consider other options.
Firstly, you could just buy a second license for your laptop for $45. You could just transfer your license to your laptop for free. When you get the money to do a VPS for $30-$50 a month and run it from there, that would be ideal.
As for time, Id look at my time seriously. Im not saying your not busy, but I went to college for 5 years and I lived in dorms, and off campus and I know a LOT of friends who have spent a lot of years in college. I wasted more time in college then I did ever. Now I take care of my pregnant wife, run a full time business logging over 55 hours a week, take care of my toddler and preschooler, do all the housework, all the shopping, all the cooking, all the cleaning, all over Everything that is needed for a family of 4 to function. Ive not been so efficient with my time in all my life.
Point is, investing a little time in being self productive could do you a lot of good. Go big or go home is what I say, and thats what Im doing and Im getting more done now then when I had more time. Truth is, if you spend 5 hours a week on TV, kill the TV and spend the 5 hours on IM, and youll shortly be making the money. Average college student spends more time then that on TV, lots more. HA, I pay $75 a month for satelite TV, $8 for netflix, and $8 for amazon prime. I watch .5 hours of TV or less a week, and thats just in passing thru a room where my wife has TV on.
Anyway, my point was, when I was in college I felt like I had no time at all, because I was so busy studying and I worked part time. If I could go back and do that now, I have realized I wasted so much time I could have worked a full time IM job in addition to my part time job at the grocery store, and studying to keep good grades and all.
</rant> lol
If you get it working on a USB drive, more power to you, but expect problems from potential memory errors, firewalls, and I mean, how long can you leave it running on a pc thats not your own? If your using it on your laptop, just transfer it. My 2 cents.