Ok, just to chime in here, just full duplex route the two IPM devices together in this case. Since that represents the incoming RTP streams from the callers in this case.
So call ipm_getxmitslot for party A and party B to get both timeslot info of those devices. Then call ipm_listen on party A device with tsinfo of party B, and ipm_listen on party B to with tsinfo of party A.
This will hairpin the audio back out to the network.
Jeff