First, to answer your question if this can be done:
Theoretically, it's doable.
Practically, it is difficult and costly, because the "memory card" as you say is actually a chip soldered onto the board of the iPod. You'll need a new working board, or an entirely new working iPod in case the one you have is completely useless.
Then you'll need someone to remove that chip from the new iPod to make room for the one that you have on the old iPod.
That's pretty expensive know how and skill to have and you'll be paying premium for it.
Second, you say the iPod is destroyed. How bad is the damage? If the screen and frame are destroyed, but the logic board is ok, you can replace the screen, attach the iPod to the computer, and back-up your data. Or install the board in a new iPod. Or some other practical and more affordable approach like that one.
So start by explaining how badly damaged it is; better yet, post a picture.