Tennessee Williams' "Sweet Bird of Youth", the Virginia Players' second major production of the year, will open tonight at 8:30 in Minor Hall, and run through Saturday night. The play concerns two people who have lost their youth and desperately try to salvage their happiness. Bianca Redden, as Princess Kosmonopolis, and Robert Shimer as Chance Wayne, are the stars. Reservations can be obtained by calling the Virginia Players' box office from 2 to 5 P.M. at 924-3051. Student tickets will be $1.