Okay I'll start off with the repotting, whenever you get a newly acquired orchid that's in bloom, do not repot it unless the medium is showing really bad signs of decay or disease (pests). Unless you can provide its optimal conditions, you'll most probably stress the plant into losing its blooms. Repot after the last bloom has wilted, this way you can enjoy the blooms.
If you get the culture correct, the blooms should either be bigger or remain the same. Though I won't rule out the possibility of it smaller, as when orchids bloom too frequently their flower size is normally compromised.
If you want it to bloom sooner, cut it above the last node, here's a link to the image of a node (should be in the middle)
Easy Orchids - Phalaenopsis
I would recommend you just cut the whole spike off, so that your plant can build its resources and bloom better the next time.
Erm, I have no idea how to answer your bizarre question, there are many possibilities, it could produce a keiki, it could produce another spike, or the spike will just die? For me I only have the experience of another spike growing when I lost a flower, but that was with a Phalaenopsis species, not sure how yours will react to that.
Woah so many orchids when you're just a novice?! Start out slow man! You can always get more when you're better with them!