The part you are referring to is the Panhard Bar and no you cannot drive without it, don't even try. The only thing you can replace it with is whats called a Watts Link but they are really expensive. Long story short - Adjust your exhaust, its easy.
2009 GT , Brenspeed B326, Stage 1 heads, E-Force - 633 rwhp / 623 rwtq
2016 Ecoboost Premium, Bama Tune, JLT CAI, CPE Charge pipes, Mishimoto Intercooler, Tial BOV, Turbosmart 10psi Wastegate Actuator, 3" Downpipe, JMS Boostmax & Pedalmax, FRPP Borla Touring Axlebacks