Weight can be a factor, especially in multiple-vehicle accidents, where the heavier vehicle simply has more momentum and kinetic energy. In a multiple-vehicle accident, the larger vehicle experiences lower g-forces, and the occupants lower forces.
Collisions with a stationary object (the basis for the NHTSA tests) largely takes this factor out of the equation. More mass can _still_ result in better survivability if it means more material around the driver, but here the choice of materials and engineering matter far more. Look at the comparison tests of classic (1950s/1960s) and modern (post 1980 and more recent) vehicles:
http://www.youtube.com/watch?v=joMK1WZjP7g
I don't know the GVW of the Bel Aire, but I suspect it's rather higher than that of the Malibu.
Of course, modern vehicles with poor engineering and materials can also fare badly: