The Ice Dragon is one of the hardest bosses in the game, so don't be discouraged, if you need some more tries.
The best way to beat him and any big bosses further in the game is to memorize their attack pattern. They'll do the same three or four attacks in the same sequence over and over again.
Maybe this will help you a bit:
"I found this one of the more difficult level bosses, especially if you don't know how to 'take care' of him. Your other team members will be frozen, so you'll have to destroy him yourself. Fire magic is your only option to damage Draco. On top of that, he's only vulnerable when he's charging up for health or a special attack (you'll see little sparks around him). This is the routine: first he'll throw 3 fire bolts at you, make sure you are standing behind Jug, that way he can't hit you. Secondly, he'll rapid fire some smaller bolts, again, Jug is the solution to your problems. After this attack he'll start charging up health, so you can attack him with a fire ball. (a magic orb will appear) He'll fly up into the air and shoots 3 bolts at you (yep, you guessed it, Jug). Start heading for the magic orb once he has fired his last bolt at you, shoot a fire ball once he starts to charge. Once you have the magic orb, head back to hide behind Jug. Ice cones should be falling from the ceiling by now. It's still possible to get hit by some, but most of them will fall behind you, minimizing the damage. Once you reach Jug, the whole routine starts over again.
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You can avoid the ice-shower by running to the right (perfectly horizontal) side of the screen and then back behind jug just in time to miss the 3 missiles."
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Source)
Just give it some more few tries and don't give up! :)