Simultaneous MAC Packet Transmission (SMPT) has recently been proposed for stabilizing the throughput over wireless links, which is one of the key challenges in providing high-quality wireless multimedia services. SMPT stabilizes the wireless link by transmitting multiple packets on multiple CDMA channels in parallel in response to packet drops due to wireless link errors. These parallel packet transmissions stabilize the link layer throughput, but they also increase the interference level in a given cell of a cellular network or cluster of an ad-hoc network, which in turn reduces the number of traffic flows that can be simultaneously supported in a cell/cluster. We have recently developed an analytical framework for the class of SMPT mechanisms for a simple Bernoulli packet generation process, which does not reflect the oftentimes bursty packet generation processes encountered in real networks. In this paper we develop a generalized analytical framework for SMPT, which accommodates bursty packet traffic (and also non-bursty Bernoulli traffic). This framework expresses the system dynamics in transition probabilities for a Markov chain and calculates the effects of the interference through an iterative approach. The numerical results from our analytical framework and verifying simulations indicate that SMPT provides a significant reduction in packet loss and buffer occupancies (and delay), especially for persistent traffic bursts, in exchange for a reduced number of supported flows. Our analytical framework quantifies these system trade-offs with good accuracy and can thus be employed for resource management.