Unable to set-up tsung cluster on EC2 - Erlang crash

I am trying to setup a tsung cluster on two ec2 instances:

Master - ip-10-212-101-85.ec2.internal

Slave - ip-10-116-39-86.ec2.internal

Both have erlang (R15B) and tsung (1.4.2) installed, and install-path is same on both of them.
I can do ssh from Master to Slave and vice versa without password.
Firewall is stopped on both the machines (service iptables stop)

On Master, the attempt to start a erlang slave agent result in {error,timeout}:

[root@ip-10-212-101-85 ~]# erl -rsh ssh -sname foo -setcookie mycookie
Erlang R15B (erts-5.9) [source] [64-bit] [async-threads:0] [hipe] [kernel-poll:false]

Eshell V5.9  (abort with ^G)
(foo@ip-10-212-101-85)1>  slave:start('ip-10-116-39-86',bar,"-setcookie mycookie").
{error,timeout}

On Slave, the beam comes up for few seconds then it crashes. The erl_crash.dump can be found here

I am stuck with error, any clue will be very helpful.

PS: On both machine the /etc/hosts is same, the file looks like below:

127.0.0.1       localhost.localdomain localhost
::1             localhost6.localdomain6 localhost6

10.212.101.85 ip-10-212-101-85.ec2.internal 
10.116.39.86 ip-10-116-39-86.ec2.internal

Solution

Looks like "service iptables stop" on individual nodes is not sufficient.

In the Security Group that is applied on the VMs, I added the a new rule that opens port-range 0 - 65535 for all.

This solved the problem.