Like the others have said, it sounds like your phal is just moving from the flowering to the growth stage of its cycle. While it is possible to do both at the same time (several of my phals have done this), often times the phal will take the energy that it was putting in the blooms to make new leaves and roots.
After 3 months, it sounds like you had a pretty good cycle going and that your phal is very happy! I would agree that you should probably repot your phal- normally they need repotting every year due to growing media breaking down. As for the spike- I'm sure that if you let it go long enough, the spike would "drop off", however, I would say that when it gets closer to the crown, I would cut it about 0.5-1" away from the crown. Good growing!