OK, the question of a lawsuit is really a lawyer question and we simply can't cover it here. I would bet very strongly that this has a LOT to do with the nature of the job, the nature of any agreements you signed, and the laws in your area.
For example, there were quite a few people absolutely required to work in MA during the emergency this weekend - all the people plowing roads and working other emergency services, people working in hosipitals, people running critical networks, etc. Given that not showing up could kill other people if you work in the critical care unit of a hospital - there's some valid reasons out there for dragging someone in.
Only you can really know the lay of the land and the nature of your role. Things to consider:
What is the impact to your company and its work if EVERYONE makes the decision you want to make? That's highly variable - in a SW company, the work slips by a day. In theater, the show loses BIG money. In healthcare, there's a body count. The level of impact has a lot to do with your employers' likelihood to follow through on threats.
A corallary here is what are the work at home options? Can you create some? I've gotten away with "how about I take my laptop and catch up on that paperwork? or so some self-training? or research this new idea online?" even when there isn't a formal work at home policy.
What is your work history and your particular situation? Judgements against you here will have a lot to do with overall performance. The person who ALWAYS wants to leave early will get a reputation. Maybe you won't get fired in this crisis, but a high absence rate over a long period will absolutely impact your career eventually.
How do you fit with most people? It's true that the guy with the daily 2 hour drive gets the lousy end of the expectation game when everyone else in the office is 20 minutes away. I know quite a few people who have long commutes who of necessity also have local places to stay as emergency options for this reason.
What's everyone else doing? I truly hate management lemming-style, but the truth is, if the whole team decides that it's unsafe, you're in a pretty good position to outweigh your manager. Once more than half a team is gone, it's pretty hard to get anything done.
What can you make work? Weather patterns, reliability of forecasts and local conditions are highly variable. Do enough research before making a decision to decide what's feasible. Update accordingly when and if you make the drive.
Ask the office about emergency options - if there's a real driving ban, then will they pay for the ticket and reimburse you for loosing your license? If you can get to work but not get home, are there emergency places to stay? What's the disaster contingency for the building and your unit? These are valid questions and worth knowing about. Realize that a big business likely has something pretty codified, a small business may be making it up as they go along.
Pick your time. 2 days before a blizzard is NOT the time to ask the boss. I'd advise - 1 day before the blizzard, ask about the process for deciding about whether or not the office is closed and how you'll keep in touch in the event of an emergency. Keep any lines of communication open and 12 hours before the blizzard, check in again if you haven't heard emergency updates.
I can tell you from experience (at least in MA) that over the years weather forecasts have been unpredictable enough that employers won't just cancel everything 24 hours ahead. They'll wait and ask people to use their best judgement. Trying to angle for a fixed solution too far ahead of realistic forecasts won't win you any fans, because managers tend to get slammed by worker requests before they get anything official from above.
Be aware of communication flows and the overall situation in your company above any single solution.
And - most importantly - let common sense win. If your area has awful and unsafe conditions, don't risk life and limb.