Well, you can't mount a RAM drive until the OS loads. What you're looking to do would require either using Open Firmware or modifying it I think. That's not really an easy thing.Can you allocate RAM disk to OS itself so that it boots faster?
P. S. I know I need to get an SSD, but that’s in plans so far.
Then you'd have to get around where the boot sequence is expecting files to be - which is a whole other thing.
BTW, an SSD is not going to give you the boot speed increase you may think you're going to get. You are still limited by the IDE bus on a G4 or older and the SATA 1 bus on G5s. Yes, it will be faster, but not a blink and it's booted type of thing.