Making punch is essentially like making a large cocktail—combining spirits and other ingredients to make something delicious and drinkable—so within the bounds of "things that taste good," you can use whatever spirits and ingredients you want. There are a few extra considerations of how to keep it chilled and how to keep it reasonably low-proof, because punch goes down easy and you don't want to knock out your guests on the second drink. But beyond that? It's all about balancing flavors.
So if you're a whiskey fan, feel free to experiment with whiskey in punch. Whiskey pairs well with citrus, the backbone of many a punch, and with Champagne, ideal for any festive bowl; take these three recipes (all of which make 4 to 6 servings) for a test drive and see how fast they disappear at your next party.