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From what I've heard about these two, they both seem immortal due to their abilities. Could either one find a way to beat the other?

Iceman would freeze PM, thus winning via TKO, but neither would kill the other.

Iceman would win this, but he wouldn't kill him, like stated above. Technically he wins the match due to immobilization and sending him out of the arena so to speak, but he doesn't kill PM.

Yup

Iceman wins by TKO.

Plastic Man has been frozen before and Iceman is the king of freezing.

Indeed. I agree with everyone.