A method for solving the time-dependent Schrödinger equation describing the electronic motion of molecular hydrogen exposed to very short intense laser pulses has been developed. The fully correlated three-dimensional time-dependent electronic wavefunction is expressed in terms of field-free wavefunctions. These are obtained from a configuration-interaction calculation where the one-electron basis functions are built from B splines. The reliability of the method is tested by comparing results in the low-intensity regime to the prediction of lowest order perturbation theory. The onset of non-perturbative effects is shown for higher intensities and the validity of the single-active electron approximation is briefly discussed. Finally, the ability of the method to calculate photoelectron spectra including above-threshold-ionization peaks is demonstrated.