In　order　to　improve　the　comprehensive　effect　of　Urban　Traffic　Control　System　(UTCS)　and　Urban　Traffic　Flow　Guidance　System　(UTFGS),　this　paper　puts　forward　a　collaboration　optimization　model　of　dynamic　traffic　control　and　guidance　based　on　Internet　of　Vehicles　(IOV).　With　consideration　of　dynamic　constraints　of　UTCS　and　UTFGS,　UTCS　is　taken　as　the　fast　variable,　and　UTFGS　is　taken　as　the　slow　variable　in　the　collaboration　optimization　modeling.　The　conception　of　Variable　Cycle　Management　(VCM)　is　presented　to　solve　the　mathematical　modeling　problem　under　the　background　of　the　two　variables.　A　unified　framework　for　VCM　is　proposed　based　on　IOV.　The　delay　and　travel　time　are　calculated　based　on　lane-group-based　cell　transmission　model　(LGCTM).　The　collaboration　optimization　problem　is　abstracted　into　a　tri-level　programming　model.　The　upper　level　model　is　a　cycle　length　optimization　model　based　on　multi-objective　programming.　The　middle　level　model　is　a　dynamic　signal　control　decision　model　based　on　fairness　analysis.　The　lower　level　model　is　a　user　equilibrium　model　based　on　average　travel　time.　A　Heuristic　Iterative　Optimization　Algorithm　(HIOA)　is　set　up　to　solve　the　tri-level　programming　model.　The　upper　level　model　is　solved　by　Non-dominated　Sorting　Genetic　Algorithm　II　(NSGA　II),　the　middle　level　model　and　the　lower　level　model　are　solved　by　Method　of　Successive　Averages　(MSA).　A　case　study　shows　the　efficiency　and　applicability　of　the　proposed　model　and　algorithm.