Depending on the reason for the overheating (a bad/closed thermostat, for example), removing the thermostat might or might not solve the over-heating problem. Obviously, if the thermostat is stuck in a closed position, removing the thermostat will solve the problem. If this is the only reason for over-heating, removing the thermostat will "solve" the problem - the engine will no longer over heat, but it will warm up much more slowing and most likely run inefficiently during that time.

Here is a little Auto Education on your vehicle's cooling system.

"Thermostat: The thermostat controls the flow of coolant through the engine. When your engine is cold, it actually operates with less efficiency. So until the engine warms up to it's ideal temperature, the thermostat keeps coolant from flowing. Your thermostat can fail in either an open or closed condition. When it fails in the open position, your engine may actually run too cold and you will have bad gas mileage. If the thermostat fails in the closed position, your engine will overheat since no coolant will be flowing through the engine."

If I run my 235 (1954) and 261 (1960) engines without a thermostat (I have only done this at up to 75 degree days), they would never reach the ~180 degree temperature at which my 160 degree thermostats would regulate the temperature. After I cleaned the interiors of my engine, I had to put in a thermostat to assure myself that my temperature gauge was working OK (I was eventually going to put one in anyway).