A real-time frame-layer rate control algorithm with a token bucket traffic shaper is proposed for minimizing video duality variation. The proposed rate control method uses a non-iterative optimization method for low computational complexity, and performs bit allocation at the frame level to minimize variation in distortion between frames. In order to reduce the quality fluctuation, we use a sliding window scheme which does not require the pre-analysis process. Therefore, the proposed algorithm does not produce the delay from encoding, and is suitable for real-time low-complexity video encoder. Experimental results indicate that the proposed control method provides better PSNR performance than the existing rate control method.