I don't think you can do it all in one, you can try to do a Health policy off of "Custom (Use any Metrics)" under either Applications or Server, but generally you have to build your individual health rules, one for server, one for applications. Then build 2 separate Policies, one for servers and one for applications. After that you can set your Policy trigger's and action to email you. The problem is that your policies are tied to the menu items i.e. "Applications, Servers, Databases, etc.). You might be able to get creative with custom templates and calling custom variables, but you'll still need to associate it with a specific health rule.
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