I have a Scolipede that does not know Speed Boost. If I am trying to give this ability to another 'Mon lets say Volcarona if he doesn't already know it. Is this even possible? If so is there some sort of trick to breeding it?
No. You cannot breed abilities from one Pokemon species onto another; Pokemon just doesn't work that way.
The only way to do that is to hack, and in which case your Pokemon will probably get barred from entering any any rated battles.
No. Not possible.
Pokemon have set abilities they can have. Volcarona can only have Flame Body or Swarm. It is possible to Hack Abilities of Pokemon but they cannot be used in Online battles or trades.