It depends on your team composition as well. I'm running Ice Beam Starmie and Clefable on my team as well as my own Dragonite, so I felt that using T-bolt over Ice Beam on Nidoking to help with my Slowbro weakness was an ok idea.
Definitely. Since Nidoking is very susceptible to Surf especially. So having T-bolt on him might help.
I tried coming up with some stuff last night... might mess with it a bit more.
Team ideas
Chansey -- Ice Beam, Soft Boiled, Thunder Wave, Thunderbolt
Muk/Gengar? Sludge, Body Slam, Explosion; Explosion, Thunderbolt, Mega Drain
Nidoking? Earthquake, Blizzard/Ice Beam, Thunderbolt, Body Slam
Porygon? Thunder Wave, Thunderbolt, Ice Beam, Double-Edge; Hyper Beam, Psychic, Recover
Alakazam? Psychic, Recover, Thunder Wave, Reflect
Arbok? Earthquake, Wrap, Glare, Hyper Beam/Crunch
Might switch out some moves though... mainly just checking out the Pokemon right now.