thats why, in addition to the springs, which would have to be tried and tried again with various strengths, i suggested padding for those times when you might hit a wave!
Another possibility which just came to mind, after reading what paparazi said was that you could even use two different sets of springs, one set for a mild shock and another set as backup, for a larger shock and to act as a dampening effect. The first set of springs, lighter, would possibly absorb some of the shock and the second set would absorb the rest. This is all theoretical anyway, but something worth thinking about. Suspending in oil, i would think you would be running into more of the heat issues again? But, again, this is all very theoretical. I have never even heard of anything like this.
Also, someone mentioned a bungee cord and that could be used in addition to the springs, even a few of them, to keep the drive in place and also to act as a damper.
Either way, i would certainly start out with cheap, small, older h drives and surely you would kill some in the making of this historical setup!
Good advice + great people = tek-tips