Why not continue here: http://forum.java.sun.com/thread.jspa?threadID=690794 ?
Hint: use Google for these queries. Here's what you get when searching for "Multilevel feedback queue process scheduling Algorithm":
http://en.wikipedia.org/wiki/Multilevel_Feedback_Queue
http://williamstallings.com/Extras/OS-Notes/h6.html
http://www.personal.kent.edu/~rmuhamma/OpSystems/Myos/multiFeedQue.htm
http://www.jimweller.net/jims/java_proc_sched/
http://www.cs.biu.ac.il/~ariel/download/os381/os9-2_cpu.ppt
http://infocom.cqu.edu.au/Units/win2000/85349/Resources/Tutorial_Sheets/Four/
http://www.cs.nott.ac.uk/~gxk/courses/g53ops/Scheduling/sched09-mlfqs.html
http://faculty.berea.edu/pearcej/CSC325/ch5.htm
http://www.cs.jhu.edu/~yairamir/cs418/os2/
I'm sure there's something usefull in these hits. Come back if you have specific questions.