Nah...I wouldn't remove the handles I would attach my shroud line to them! Have you ever seen kids play with one of those? I could be wrong but those handles have to be the strongest link on the chute.
If you do please let me know how it goes. I've seen the way kids tug and pull on them (even really big kids) so I have to imagine they are up to the task of holding up a 7 lb rocket for 40 to 50 seconds.