Making use of field expansion and the equivalent boundary, an analytical model is set up to describe the multi-mode intercoupling in two-dimensional coaxial Bragg structures with either one or both of the conductors corrugated with helical ripples. The coupled-mode equations and the explicit formulae of the coupling coefficients for all possible mode combinations are derived, and the general mode coupling rules are discussed. Based on the analytical model, the dependence of the coupling coefficients on structural parameters of the two-dimensional coaxial Bragg structures with overmoded operation is investigated by numerical calculation. The results show that the additional conductor provides more flexibility for adjustment of coupling coefficients compared with other types of two-dimensional Bragg structures with a single conductor. Taking advantage of this feature, a two-dimensional coaxial Bragg structure can provide strong reflection with high mode purity under overmoded operation by suppressing the parasitic coupling using an optimized combination of corrugated outer and inner conductors. In this way, the structure has potential applications in the design of high-Q improved Bragg resonators for high-power microwave oscillators operating in the millimeter wave or terahertz range.