If you're super meticulous, you can even end up with latte art on an iced latte.
I tried this today as well. We steamed the milk to 120 (couldn't seem to end up with 100) and poured it over iced espresso. The foam floated on top and it was really good! I would definitely recommend it.
Wow! We JUST tried this at our shop and it is absolutely SLAMMIN! The texture is a very nice touch and it is sweeter than a regular iced latte because of that little bit of steaming!
We tried both the 6-oz traditional iced cappuccino method and the iced latte method. The method my co-worker and I both preferred was (prepared in this order) the 16-oz cold cup with a splash of milk at the bottom, espresso, cup filled with ice, and milk texturized to about 100 degrees on top. It did have a nice head of foam that was great to drink straight-up strawless. Oh my, what an experience!
How about scooping an inch or two of foam in the bottom of the cup, then the ice, then the shots and cold milk together? The foam will magically float to the top integrating with the espresso on the way. Less foam for a latte on the rocks. The art on the top sounds nice but some customers may be expecting a truly cold drink and the warm foam may throw them off.