You can also use docker. You can create multiple docker containers that will run your node server. Now at the nginx level at your host machine you can do load balancing configuration which will route the traffic equally to different docker node containers this will improve your availability and scalability, In heavy traffic you just need to increase the number of docker node containers as and when required. I guess initially 2 containers will be enough to handle traffic (depends on your use case though).
Note:- You can also use forever
or supervisor
as suggested by @Rajesh Gupta inside your docker containers for running node server. We use PM2 for that.
If you have a database then you can create a separate docker container for the database and map it to a volume in your host machine.
You can learn about docker from here.
Also you can read about load balancing in nginx from here.
Further more to improve your availability you can add a caching layer in between nginx and docker containers. Varnish is the best caching service i have used till date.
PS:- We use a similar but more advanced architecture to run our Ecommerce application that generates 5-10k orders daily. So this is a tested approach with 0 downtime.