A shoe sole and heel member has a sole portion and a heel portion. Bulges are molded into the heel portion and the metatarsal region of the sole portion defining heel and metatarsal cavities. Passageways between the cavities enable air to move back and forth therebetween. A sealing member is attached to the sole and heel member to hermetically seal the air in the cavities and the passageways. In one embodiment, a single U-shaped heel cavity communicates with a single metatarsal cavity through a Y-shaped passageway. Rigid stabilizers laterally flank the cavity-defining bulges. In another embodiment the heel cavity has forward and rearward portions interconnected by a narrow channel, the portions respectively communicating through separate passageways with opposite sides of the metatarsal cavity, with oppositely-directed one-way valves in the passageways. In a third embodiment, there are two separate metatarsal cavities and two separate heel cavities respectively intercommunicating through two passageways.