wp_dropdown_categories
has a hierarchical and depth options available.
$args = array(
'show_option_all' => 'All Tshirt Categories',
'orderby' => 'ID',
'order' => 'ASC',
'hide_empty' => 1,
'child_of' => 0,
'hierarchical' => 1,
'depth' => 1,
'taxonomy' => 'tshirt_categories',
'hide_if_empty' => false ); ?>
<h2>By Category</h2>
<form action="<?php bloginfo('url'); ?>" method="get">
<div>
<?php wp_dropdown_categories($args); ?>
<input type="submit" name="submit" value="view" />
</div>
</form>