An intelligent tire pressure management system capable of real-time tire pressure monitoring, vehicle load detection, and automatic tire inflation and deflation for maintaining optimal tire pressure in a commercial vehicle. Additional functions include counting tire rotations for calculating and recording distance travelled for each tire, and detecting wheel sliding due to locked-up tires. The system includes a chassis-mounted control box connecting to the vehicle air supply, a hubcap-mounted dual wheel valve apparatus integrated with a rotary union assembly that connects through the vehicle hollowed axles to the air tubes from the control box. The inflation/deflation supporting dual wheel valve apparatus has an embedded electronic unit that monitors individual tire pressure and temperature in real time, and communicates with the control box over the power line. Furthermore a load sensor integrated with the control box provides the system with the current vehicle load information. With readily available real time tire pressure data and current vehicle load information, this system can intelligently adjusts tire pressure to the desired level when necessary and, as a result, prolongs tire life, improves fuel economy, reduces the vehicle maintenance costs, and promptly alerts the driver of low, leaky or flat tire conditions for enabling the driver to take immediate corrective actions.