best way it to dispatch and event from the loaded swf saying it's done. But it depends on your set up.
easiest (not best) way to to make a global variable in movie1.swf called isDone and set it to true when movie1.swf is finished. Have an onEnterFrame running in the master swf checkign for _global.isDone to be true and then load the next movie.
trace("Good bye Flash.") Log.i(TAG, "Hello Droid");