I would like to control the flow of hot water to the dishwasher.
I want to drain the initial cold water and send the hot water when it gets hot enhough through to the dishwasher.
Can that be done with standard Thermostatic Mixing Valve?

No that valve is to prevent scalding. Watts and other make a hot water recycling system that might do what you need. Here is one by D'Mand but its pricey Metlund D'MAND Systems (http://www.solardirect.com/water-heaters/instant/metlund/metlund.htm)

Why not run HW to the DW all the time? It helps preheat the DW and keeps the wash temp up. Reducing temp for a DW is not a good way to save energy costs.

Ma, I don't think you read this correctly. TCC wants only hot water with no initial cold water which normally lays in the pipe.

Must be a long run, mine is hot within30 secs and the heater coil does the rest.