if your talking about at the end of wolverine and the x-men season 1; she dies by taking in phoenix force and protecting Scott and jean. So, then she's shattered in diamond form, and phoenix force dies. a rather foolish decision really, before that happended, since Emma is now in love with Scott. He abandons her and jean ties her to a wall, with metal cords.
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January Jones
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Emma Frost would win because Psylocke is nowhere near Emma's psychic ability and current Psylocke is no longer immune to telepathy(Nation X). If Psylocke use her telekinesis, her telepathy will weaken giving emma an open chance to mindrape her or something.
Emma frost takes it in then, releases it. in the process she dies.