Visual Studio 2012 indeed refuses to install on removable drives, but it can be installed on certified Windows To Go devices. A list of such devices can be found here and here.
If you don't have such a device then one possible workaround (which I haven't personally tried) might be to create a VHD on the card and install the programs in that. The performance might be terrible, but that's for you to deal with.
Open Disk Management (
Run / diskmgmt.msc) and create a VHD on the card from the Action menu. Initialise the new disk, create a new simple volume on it, format as NTFS and specify a drive letter.
To auto-mount the VHD/VHDX you can create a shortcut in your startup folder or use the Task Scheduler/Group Policy Editor to schedule a startup/logon script that runs the following command:
C:\Windows\System32\WindowsPowerShell\v1.0\powershell.exe Mount-DiskImage "VHD_Drive:\path to\VHD.vhd"