1. A method for managing memory allocation among plural virtual application environments supported by a common operating system, comprising: establishing a mapping between a virtual application environment (or processes therein) and a mapping proxy that is reachable via a reverse mapping pathway adapted to facilitate identification of virtual addresses associated with a memory page frame; identifying said virtual application environment (or processes therein) as an allocation recipient of said memory page frame by traversing said reversing mapping pathway to said mapping proxy; and reclaiming said memory page frame for allocation to another virtual application environment by invalidating data therein or transferring said data to a storage resource based upon memory usage by said identified virtual application environment.