Urban subway, because of its speed and punctuality, receives considerable popularity and injects great vitality into the city's economic development. However, overcrowding frequently observed in subway carriages during peak hours potentially leads to an increase in accident risk, while there are still some spaces available in buses in some situations. Such imbalance between the two public transits, which was examined based on the load ratios reported for Beijing public transits in a map App, motives us to develop a periodic stop-skipping strategy to shift the excessive demand from subway to bus to alleviate the overloaded situations while to reduce the unwanted influence on the passengers. To achieve such bi-objectives, we propose a non-linear model with consideration of the passengers' choice under the stop-skipping operation. To avoid to exhaustively examine all stop patterns, the stop patterns required to evaluate are identified theoretically. We develop a genetic algorithm to generate the optimal plan, with the triggering mechanism devised to give the priority to the safety objective. With the calibrated choice model, four sets of numerical experiments were performed to evaluate the proposed approach. The results indicate that our approach can effectively alleviate the overcrowding while the efficiency can be increased in some circumstances as the remaining bus capacity is utilized. The optimality and the efficiency of the algorithm and the effectiveness of the triggering mechanism were also verified. The proposed approach can be applied as an effective and economical way to rebalance the peak demand when the bus capacity is surplus.