Does the hypophysis-ovaries endocrine axis work in the same way during pregnancy as in non-pregnant women? If pregnancy does not occur how does another menstrual cycle begin?

The functioning of the hypophysis is changed during pregnancy. As estrogen and progesterone levels remain elevated during the gestational period the production of GnRH (gonadotropin-releasing hormone) from the hypothalamus is inhibited. The lack of GnRH therefore inhibits the secretion of FSH and LH from the hypophysis and a new menstrual cycle does not start.

If pregnancy does not happen the lowering of estrogen and progesterone levels stimulates the production of GnRH by the hypothalamus. This hormone then hastens the adenohypophyseal secretion of FHS and LH that in their turn stimulate the maturation of follicles and the starting of a new menstrual cycle.