Reply to James's Post: It has, to my knowledge, never happened if I hadn't just used the brakes. One time it did happen on a highway, but I was using the brakes to merge into traffic.
I currently don't accept this answer. The smell is very distinct with rapid onset, rapid dissappearance, and I think it comes from under the dashoard. If it was something combustable on the exhaust, or in the engine compartment, I don't think the smell would quickly appear and just as quickly dissappear and then not return for days at a time. It would probably just slowly smolder and generate smell at all times, and stink up my garage when I got home. There is no odor in my garage and I keep the doors shut. It would not just on and off like something electronic might. I also just had this car's oil changed at a national chain the other day, so I think if they saw a piece of cardbord jammed under there, they would remove it and tell me about it.
What I'm really looking for is a list of possible components in my Bonneville that might overheat and begin to smell for short periods of time. If I can find out where they all are, I possibly could safely pull off the road and check them for heat the next time this occurs.