In this work, we present an all-gas-phase approach for the synthesis of quantum-confined core/shell nanocrystals (NCs) as a promising alternative to traditional solution-based methods. Spherical quantum dots (QDs) are grown using a single-stage flow-through nonthermal plasma, yielding monodisperse NCs, with a concentric core/shell structure confirmed by electron microscopy. The in-flight negative charging of the NCs by plasma electrons keeps the NC cores separated during shell growth. The success of this gas-phase approach is demonstrated here through the study of Ge/Si core/shell QDs. We find that the epitaxial growth of a Si shell on the Ge QD core compressively strains the Ge lattice and affords the ability to manipulate the Ge band structure by modulation of the core and shell dimensions. This all-gas-phase approach to core/shell QD synthesis offers an effective method to produce high-quality heterostructured NCs with control over the core and shell dimensions.