1. A network monitoring system implemented on a computer including at least one processor, the system comprising: a flow processor coupled to a media module, the flow processor classifying the collected data as a priority flow or a non-priority flow and collecting data associated with traffic on a network segment, the flow processor monitoring the average size of a priority queue and, responsive to the average size of the priority queue exceeding a threshold reclassifying data in the priority queue as non-priority flow; a capture buffer coupled to the flow processor, the capture buffer including the priority queue and a non-priority queue; an allocation module coupled to the flow processor and the capture buffer, responsive to the flow processor classifying the collected data as a priority flow, the buffer allocation module storing the collected data in the priority queue and responsive to the flow processor classifying the collected data as a non-priority flow, the allocation module storing the collected data in the non-priority buffer, wherein the allocation module dynamically modifies a size of the priority queue responsive to classification of collected data as a priority flow by the flow processor.