Linq to SQL is made up of 2 parts:
1) The changes to the C# language for the new Linq syntax. This is all handled by the compiler so you will need vs2008, but once it's compiled you can still run on .net 2.0.
2) The framework classes that do the database access. You would need to find and reference these (System.Core, System.Data & System.Data.Linq I think) and distribute them manually with your app.
.net 2.0/3.0/3.5 all use the same CLR, so in theory it should all be able to work fine on 2.0 provided you distribute the missing assemblies.
In theory I it should work.
In practise you should definitely try it out first.
There's a blog post here on using Linq on .net 2.0, but it doesn't mention anything about Linq-to-sql.
Note the mention of requiring .net 2.0 SP1 because of an updated system.dll.