Put 4 cups warm water in large mixing bowl. Whisk in the instant espresso powder and sugar; stir to combine and dissolve. Pour in the milk, chocolate syrup, whiskey-flavored liqueur, chocolate liqueur and coffee liqueur and stir to combine.
Pour the mixture into a punch bowl and sprinkle with the cocoa powder and grated nutmeg. Scoop some vanilla ice cream into each cup and pour the coffee punch over it.