This happened to my brother back in the day! During high school my brother and I would drag race our cars (he had
a '68 Cordovan Maroon Rally Sport with a pumped-up 327 and I had (and still have) a stock '68 Z/28) at Baylands Raceway in Fremont, CA. Being a couple of teenagers, and as if drag racing wasn't enough fun, we would "race" back home. A "road race" through the Oakland Hills (anybody familiar with Skyline Blvd?) followed by more "drag racing" on Highway 13. Well, one last burn out in front of my parent's house and out my brother's differential came! Both quarter panels of the car were now resting on the rear tires and the only thing that held the differential in place was the rear flexible brake hose!
What a fun night!
Anyway, you're right about this area being a weak spot on the first generation Camaros.