Mnesia does not automatically manage the number of replicas of a given table. You are responsible for specifying each node that will store a table replica (hence their number). A replica may be then:
It's possible to reconfigure the replication strategy when the system is running, though to do it dynamically (based on a node-down event for example) you would have to come up with the solution yourself.
The Mnesia system events could be used to discover a situation when a node goes down; given you know what tables were stored on that node you could check the number of their online replicas based on the nodes which were still online and then perform a replication if needed.
I'm not aware of any application/library which already manages this kind of stuff and it seems like a quite an advanced (from my point of view, at least) endeavor to make one.
However, Riak is a database which manages data distribution among it's nodes transparently from the user and is configurable with respect to the options you mentioned. That may be the way to go for you.