A mobile wireless terminal (MWT) includes multiple wireless modems. The multiple modems have their respective transmit outputs combined to produce an aggregate transmit output. The multiple modems can concurrently transmit data in a reverse link direction and receive data in a forward link direction. The MWT is constrained to operate under an aggregate transmit power limit. Each of the multiple modems has an individual transmit limit related to the aggregate transmit power limit. When operating, over-limit ones of the multiple modems are deactivated and then reactivated to keep an aggregate transmit power of all of the modems below the aggregate limit, and to maximize data through-put on the forward and reverse links.