A mobile communication device is operative to perform a first communication function (e.g. inquiry or paging function for discovery) with use of a first radio frequency (RF) transceiver (e.g. BLUETOOTH transceiver) and a second communication function (e.g. voice telephony function) with use of a second RF transceiver (e.g. IEEE 802.11 transceiver). In response to identifying an indication to invoke the first communication function while the second communication function is being performed, the mobile device reserves selected timeslots of a wireless communication link with the first RF transceiver for establishing a synchronous link. The mobile device then causes data of the first communication function to be communicated, via the first RF transceiver, during remaining unreserved timeslots of the wireless communication link. The mobile device further causes data of the second communication function to be communicated, via the second RF transceiver, during the reserved timeslots of the synchronous link.