I would recommend low-pass filtering the power signal first. There is always going to be some amount of transient noise that will mess with instantaneous readings; low-pass filtering helps mitigate that. A nice and easy low-pass filter would be something like this:
// Make this a global variable, or a member of your class:
double micPower = 0.0;
// Tweak this value to your liking (must be between 0 and 1)
const double ALPHA = 0.05;
// Do this every 'tick' of your application (e.g. every 1/30 of a second)
double instantaneousPower = [[SCListener sharedListener] peakPower];
// This is the key line in computing the low-pass filtered value
micPower = ALPHA * instantaneousPower + (1.0 - ALPHA) * micPower;
if(micPower > THRESHOLD) // 0.99, in your example
// User is blowing on the microphone