Maybe it's possible with not hardcoding the version but having a parameter (<version>${dependency.version}</version>) and then starting the build with mvn clean install -Ddependecy.version=VERSION (in Jenkins you can parametrize builds). But this is nothing more than a hack!
Having SNAPSHOT dependencies during development is ok (and sometimes a pain ;-) but before releasing your project you should release the dependency.
If the development of the commons project is (currently) tightly coupled to your project you could consider having the commons project in the same release cycle like your project for the time being.