three options, each with pro's and con's:
1) CNAME/A Record method:
create two records of the same type (both "server") one to each IP, this will provide round robin, each time someone access's server.domain.com they will reach one of the two IP's - this solution is less advised for failover and is better for load balancing.
2) NLB - Network Load Balancer:
A somewhat expensive device that can load the balance between a couple of servers and forward all traffic to one of them if the other is down.
3) Coding method:
server.domain.com points to a web page that forwards all/based on IP/based on a record (on the server for example from a heart beat software) to the IP.
