Blooming Phal needs repotting!?

[trancentrees]

Firstly as this is officially my first post so I'm a newbie, so please be patient...

I seriously need some advice please. I have a phal which has remained in constant bloom for the last 18 months. Over the last couple of weeks the bottom leaves have started to look a bit wilted and droopy. I think it probably needs a bigger pot and some fresh bark but I don't know if I can repot it while it is still blooming? I'm terrified that I'm going to kill it off as it was my first orchid so rather sentimental, especially since it hasn't stopped blooming. Any advice would be appreciated!