To my knowledge:
1) There isn't anything currently that does what you're asking for.
2) If you're unhappy with the security that comes with pm's, then you might want to consider using DCC Chat, which is more secure.
3) With pm's your messages still go through the server, but with DCC's, only the initial connect (and disconnect) messages are sent to the server. Other than that, the message bypass the IRC server completely.
4) Encrypted groupchat almost sounds like an oxymoron, since everyone in the group would need to have the key to decrypt the messages.