A dynamic combined power control and forward error correction control (FEC) technique for mobile radio systems which illustratively decreases the power consumed by wireless transmitters and increases the number of simultaneous connections which may be supported thereby. Individual transmitter-receiver pairs may adaptively determine the minimal power and FEC required to satisfy specified quality-of-service (QOS) constraints. Specifically, in accordance with an illustrative embodiment of the present invention, a first portion of a signal is encoded with a first code to generate a first encoded signal portion. Then, the first encoded signal portion is transmitted with a first power level. Next, parameter data is received, wherein the parameter data is representative of one or more characteristics of a received signal portion having been received by the receiver, the received signal portion having been based on the transmitted first encoded signal portion. A second code and a second power level is then determined based on the received parameter data, and a second portion of the signal is encoded with the second code to generate a second encoded signal portion. Finally, the second encoded signal portion is transmitted with the second power level.