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Voice over Internet Protocol (VoIP) is one of the most important and popular applications for voice communications on the Internet. However, network dynamics of transmission latency and packet loss from public Internet will affect the voice quality of VoIP service. To make sure all participants in large-scale session of conferencing VoIP (CVoIP) have a good perceptual quality, CVoIP needs to pay considerable amount of resource and maintenance cost on client-server architecture of Internet. Therefore, we propose application-layer multicast (ALM) agents to construct a CVoIP multicast overlay network (CVoIPMON) ι with load sharing for cost-effective CVoIP service. Due to the activities of member leaving and joining the CVoIP session, we further apply the product of average link bandwidth and lifetime (i.e. ABTP) as criterion to construct a stable CVoIPMON. In this paper, we use the simulation tool OMNeT++ to obtain experimental results from the simulated CVoIPMON. The performance results demonstrate the load sharing and stability in proposed CVoIPMON for cost-effective CVoIP.