The Dons schemer was shown a straight red-card by referee Andy D'Urso 44 minutes into the 1-0 defeat against the League One leaders at Stadium MK on Saturday.
Puncheon will therefore have to serve an automatic three game ban which come's into immediate effect.
He will now have to sit out the away games against Oldham and Brighton and next Tuesday's Johnstones paint Trophy match against Southend at Stadium MK.