VRAM isn’t going to make much of a difference, as Noggit won’t come anywhere close to filling even 1GB in most situations.
Noggit runs usably well on my seriously ancient (and underpowered) Geforce 8600M GT 512MB, so anything recent should run it quite well.
That said, I wouldn’t recommend that particular card. I wouldn’t go lower than $100US if at all possible.