Kinetics of cross-linking copolymerization of acrylate- and methacrylate-monomers in a liquid crystal blue phase was studied by on-line FT-IR measurement. Dependences of monomer concentration, temperature and UV intensity on monomer consumption rate were investigated. The electro-optical properties of polymer-stabilized blue phase (PSBP) were evaluated. It was found that the monomer consumption rates are accelerated by acrylate-monomer and decelerated by methacrylate-one. The electro-optical properties of PSBP were improved by controlling polymerization process with a reduced amount of methacrylate-monomers.