This paper presents a novel load management technique that can lower the peak demand caused by package airconditioner loads in large apartment complex. An intelligent hierarchical load management system composed of a Central Intelligent Management System(CIMS) and multiple Local Intelligent Management Systems(LIMS) is proposed to implement the proposed technique. Once the required amount of the power reduction is set, CIMS issues tokens, which can be used by each LIMS as a right to turn on the airconditioner. CIMS creates and maintains a queue for fair and proper allocation of the tokens among the LIMS requesting tokens. By adjusting the number tokens and queue management policies, desired power reduction can be achieved smoothly. The Markov Birth and Death process and the Balance Equations utilizing the Diffusion Model are employed for evaluation of queue performances during transient periods until the static balances among the states are achieved. The proposed technique is tested using a summer load data of a large apartment complex and give promising results demonstrating the usability in load management while minimizing the customer inconveniences.