Hi I'm back. I got the Nesquik powder and tried that. This tasted just like Carnation Instant Breakfast to me:
2 tbsp Nesquick, 1 tbsp nonfat dry milk per one glass
I looked on the ingredient list for Carnation Instant Breakfast, and the basic ingredients are sugar, cocoa, dry milk. I tried this (see my post above) and it was bubbly and did not mix well. So then I noticed that the Instant Breakfast said "cocoa processed with alkali". I don't know what that means, but it is the same ingredient in Nesquick, and it really does make a difference in the smoothness of the drink. Nesquick already had sugar in it, so it was not necessary to add sugar.
Since the Carnation brand is owned by Nestle, I really do think that the instant breakfast is just Nesquik with dry milk added. This is a lot cheaper than buying the instant breakfast. If you want the vitamins, take a pill instead.
You guys let me know if you think this is pretty darn close if not exact.