I've had a similar issue except I only have the other party drop out for about 15 seconds. I can faintly make them out and then it comes back to normal without dropping the call. And during that time they can hear me fine. It was completely random.

Battery resets didn't work, I even had my carrier Telus do a hardware swap and it still happened on the new one. So it's not isolated to one unit. It hasn't happened in a while and I can only assume at this point that upgrading to at least 4.2.2.173 has resolved it for me. Hope this helps.