In this paper, we propose a new beam allocation strategy aiming to maximize the average successful tracking probability (ASTP) of time-varying millimeter-wave MIMO systems. In contrast to most existing works that employ one transmitting-receiving (Tx-Rx) beam pair once only in each training period, we investigate a more general framework, where the Tx-Rx beam pairs are allowed to be used repeatedly to improve the received signal powers in specific directions. In the case of orthogonal Tx-Rx beam pairs, a power-based estimator is employed to track the time-varying AoA and AoD of the channel, and the resulting training beam pair sequence design problem is formulated as an integer nonlinear programming (I-NLP) problem. By dividing the feasible region into a set of subregions, the formulated I-NLP is decomposed into a series of concave sub I-NLPs, which can be solved by recursively invoking a nonlinear branch-and-bound algorithm. To reduce the computational cost, we relax the integer constraints of each sub I-NLP and obtain a low-complexity solution via solving the Karush-Kuhn-Tucker conditions of their relaxed problems. For the case when the Tx-Rx beam pairs are overlapped in the angular space, we estimate the updated AoA and AoD via an orthogonal matching pursuit (OMP) algorithm. Moreover, since no explicit expression for the ASTP exists for the OMP-based estimator, we derive a closed-form lower bound of the ASTP, based on which a favorable beam pair allocation strategy can be obtained. Numerical results demonstrate the superiority of the proposed beam allocation strategy over existing benchmarks.