Walrein learns sheer cold at level 65. It is the last attack he ever will learn if you don't use any tm's or move tutors.
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In generation III, Spheal learns Sheer Cold at lvl 49. Sealeo learns it at 55. Walrein learns it at lvl 61.
Feraligatr cannot learn Sheer Cold.
You can't get it on TM but some pokemons does learn them those pokemons are Dewgong,Lapras,Articuno,Glalie,Spheal,Sealeo,Walrein,Kyogre,Snover and Abomasnow.There you go :-)
Articuno learns sheer cold at a level 85.
It probably cant regularly unless you have a special way to hack it to other than that it cant learn Sheer cold.