No it is just a moral panic because college students like to drink vodka Red Bulls, as opposed to drinking Irish coffees or any similar combination of caffeine and alcohol.
Yeah, seems like the problem is alcohol + caffeine, and at least in the US, those combinations in a single drink have been banned (ie Four Loko)
Glad to know you uncritically will sign up for the moral panic of the times.
Nah, no moral panic here. I don't see the reason to combine stimulants with depressants, you then just mask the underlying issues with both. Hence often the regulation of the combination.
So do you want to outlaw espresso martinis? Or rum and cokes?
Sure. Realistically you simply regulate them. Espresso martinis are already long a popular 'after dinner' cocktail with the assumption that you'll be buzzed from the caffeine and able to drive better.