The only way to remote install a virus would be to get him to click on a link that is hosting it. OR send him a file he will open and run.
As far as remote access, or disabling someones computer solely by the IP address, the short answer is no. HOWEVER, You can get his ISP (internet service provider) from his IP address and call them with a complaint that their customer is using their service for illegal activities. (hacking, is illegal.. And if its done over state lines, its a federal offense.)
Once an ISP has been notified that their service is being used for illegal activities they will investigate and most likely terminate that users contract... Meaning they will have no internet until they sign up with another provider.
For some, losing a good internet provider is like having your car totaled. There's an extreme sense of loss until its replaced.
Lots of police departments these days do have a "cyber-crimes" division. They will monitor your computer and when it is being hacked they will trace and arrest the person responsible.
Keep in mind, the person does not just lose their freedom in a raid like this.... ALL of their computer equipment will be confiscated and the chances of getting it back are slim. How is that for justice? Having a raid team kick in his door, cuff his azz, and he gets to watch as all his gear is dismantled and carried out of his house never to return again.
Thousands of dollars worth of computers and software gone. Not to mention the legal costs of hiring a lawyer and paying fines.
-- If you want to make someones life uncomfortable, you can set up Win XP with multiple ping scripts all hitting his IP address at once. This will snail his internet connection down to dial up speed. GRANTED, it will also snail your connection due to the thousands of ping requests being sent, but they have more to lose than you do at this point.
BEST COURSE OF ACTION: Contact your local police and see if they have a cyber crimes division or ask for the nearest cyber crimes division. And for the love of God, DO NOT do anything illegal while the police are monitoring your computer. No downloading, no watching pirated movies, and no chatting that you wouldn't want anyone else to see.
What law enforcement will do to this guy is far worse than anything you can do with just an IP address.
-- Dave. (Long Island, NY)