Recently, my C drive failed and I had to re-install Windows. I also didn't have a backup of Vendetta.
I lost all my plugins and bindings. Now I know this was my own fault but I didn't lose my other files because I had "My Documents" defaulted to a USB drive.
Being able to set a "Save / Load" path for the plugins folder, the settings folder, and the text files in the config.ini would be a great feature.
This way if I forget to copy those items (which I try to remember to do after every session) it's done automatically.

Or if this is already something that can be done, would someone tell me how?

tyvm

Just install VO somewhere else

Aye, you have the option to choose your save location upon installing VO.

Remember that plugins and backup are not covered by GS.

So, a more simple and efficient solution:

-Get ANY decent backup product and program to save periodic copies of your VO folder, or at least selected config files and /plugins dir. Use incremental mode on external media, as a DVD+RW.