Can I disconnect the dvd/cd drive since I don't use it anymore?
Yes, although it would not draw any current until a dvd/cd is inserted into it anyway.
2) if I am wrong will it crash the whole system or will I need to just buy a larger power supply?
It will not crash but it may not boot.
I googled what system hardware I do know you have and I beleive you'll be ok running the 3 hd's and keep the dvd/cd also.
One thing I'd suggest is to make sure the PSU fan and cooling grid is cleaned well with
compressed-air-in-a-can available at most electronics stores or Walmart.