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Looking to keep my bitcoin data portable and encrypted however the large amount of blockchain data is problematic. I'd like to use bitcoin, truecrypt and googledrive. Is this possible?

Hey there, so I'm looking to store my wallet.dat in a truecrypt volume located on my google drive. It looks like with the stock bitcoin windows app, I would have to move the entire data directory. This wouldn't be a problem if the blockchain wasn't so huge. Is there a more lightweight app that would do this? Perhaps a better way?
The reason I'm having an issue is because to point Bitcoin.exe to my wallet.dat (which is located on a truecrypt volume in my googledrive folder) I have to point the entire data directory like so: bitcoin.exe -datadir=y:\Bitcoin
The problem with that though is the blockchain data is HUGE and I don't want it filling up my googledrive.
So I guess my questions are:
  1. Is there a portable light weight version of the bitcoin app that would handle this better?
  2. Is there a flag that won't redirect the ENTIRE bitcoin data folder and only point to where the wallet.dat file is?
  3. Is there a way to just omit the blockchain data somehow?
Thanks in advance, sorry if this has been covered before. I did a search but nothing came up.
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