Refinements of pair approximation for network analysis
The way you formulate your question makes it sound like you care about dynamics, but since what you are looking for seems to be a steady state solution, ground states seem like a much more productive route to go down.

Since you want to go beyond pairwise approximation, the most natural candidate technique seems to be matrix product states, which is a pretty hot topic at the moment for dealing with quantum ground states. The way this approach works is basically by introducing maximally entangled pairs between nodes, and at each node introducing a projector. By adding higher dimensional systems you'll capture more features of the graph. I know your problem probably isn't quantum, but I don't see why this technique still shouldn't work. You should be able to simply replace the entangled states with $\frac{1}{2}(|00\rangle \langle 00| + |11\rangle \langle 11|).$

Also, I'm not sure if this is the kind of thing you are looking for or not, but there are some recent results on realizibility of scale-free networks, showing that they exhibit two phase transitions which seems to have just been accepted to PRL. A preprint entitled "All scale-free networks are sparse" can be found as arXiv:1106:5150.