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The safety pilot acts as PIC (defined by Part 1).
The person flying with a view limiting device acts as sole manipulator of the controls (defined by Part 61.51).
Both log as PIC assuming they both have PPL/Medical or better.
Sure how much is ur cessnas per hour? Ours are 73/hour out here for 172. So its hafta be around that to make it worth while.
Chris
http://www.flycarolina.com/theclub/aircraft_rates.htm
we have a couple 172's b/w $64 and $67 dry. its a flying club for 'members only' but i know that guys that run it pretty well so ill see if they can let us split the time