To expand on what was said then so much what you do will depend upon the topology and where the Point to Point Link actually terminates.
Would also depend upon how the Branch Office Network route is put into the Central Office and if Traffic normally goes through the Check Point anyway.
So to give a more detailed answer then would have to see a high level topology for how this fits together.
How I would do is
Router at each location that is running Dynamic Routing. This then advertises the Remote Network into the Core at the Location. So effectively the Check Point Gateway and the P2P Router are on stub networks hanging off the Core Switch, and the Core Switch makes the decision to send to the P2P router or the Check Point.
Route Based VPN between the Branch Office and the Central Location, which will also advertise the routes but make sure have a Higher Cost so that traffic would route to the Router rather then over the VPN.
In the event that the Link OR the actual Router goes down at a location then the Route via the Point 2 Point link is no longer learnt and so the Route Based VPN would take over.
I tend to favour this as that way if any of the traffic does have to go through the Check Point, maybe accessing a DMZ resource so normally comes over the P2P link and then upto the Check Point Box to access the Server then the Check Point see's the connection via the P2P link and forwards accordingly.
If a Domain Based VPN would simply send over the VPN and end up with Assymetric Routing.
Of course if don't need to access any resources in a DMZ and the Traffic from the Branch Office never normally goes near the Check Point then could simply have a Domain Based VPN and if the P2P link goes down then the traffic would revert to going to the Check Point and over the Domain Based VPN by reason of no route via the P2P.
Hence why would need to know more fully the details if someone to advise what may be best for your specific environment.
As previously said whilst seemingly a simple question then gets very complex depending upon how the network actually fits together.