[uClibc]malloc for soft real-time application

[Dmytro Bablinyuk]

What the best way to use malloc (gcc 2.95.3, uclibc, arm-linux, kernel 2.4.18, ARM7) for soft real-time application.
Major planed malloc usage is to allocate a shared memory to pass a messages between processes. May be we do need to allocate a fixed size memory divided on the similar size chunks and use them instead. 
What the better way?
What the maximum memory allocation time or time to detect a failure could be and under what circumstances?
How do I measure this, if possible?

I am very much appreciate any ideas and suggestions,

Thank you