Disclosed is a method and system for managing one or more message queues in a peer-to-peer communication network. The system comprises of an initialization module, a queue manager, a load balancing module, a queue monitor and a fault detection and handling module. The initialization module initiates a communication channel between one or more peers through the message queue. The queue manager is configured to manage communication between peers through a unified communication system. The load balancing module uniformly distributes a load across the message queues for a transaction. The queue monitor is configured to monitor the message queues corresponding to a service and a transcode related to the service. The fault detection and handling module is configured to detect state of the server in the unified communication system and dynamically route the messages in the message queue to a next available server.