so what will happen with breathers on both valve covers and the port on the carb plugged?
Nothing catastrophic. But, besides adding more polutants to the air (unburned hydrocarbons, etc) your engine oil will become contaminated quicker, and cause pre-mature engine wear.
No matter how good the piston rings are, there's always a slight leak (blowby) past the rings. On the compression stroke there's unburned fuel leaking by, and on the power stroke, there's all the byproducts of combustion. The Positive Crankcase Ventilation (PCV) system is intended to remove as much of those contaminants as practical. It does this by causing a constant flow of fresh air through the crancase to pick up any vapors, and direct them back to the intake manifold to be burned.
The fresh air source is normally the air cleaner, through a hose or duct, to the drivers side valve cover, but a filtered breather on the valve cover is OK. Just make sure the breather is big enough. The air moves through the crankcase and up to the passengers side valve cover, where the PCV valve is installed to regulate the vapor flow. Then through the PCV valve and to a manifold vacuum connection. It is the manifold vacuum that causes the air flow through the engine.
Do yourself, your engine, and the rest of us a favor, and install the PCV valve.