How Do I Save A Phalaenopsis Keiki

[CJTorres]

Hello All,

I've been bitten by the Orchid bug while trying to salvage a dying Phal for my mother-in-law.

I have a Phal in my hands that is suffering from extreme root loss and rot. One leaf has already fallen from the plant and the other which is a recent leaf about 4wks old appears to be wilting and wrinkled (currently bagged to retain moisture). The plant has a cane, no flowers, but it does have a Keiki on it that has been growing for the better part of two months now. The Phal looks like its only days away from complete death. Is there anyway to save the keiki even though there are no signs of roots on it yet? The keiki itself also appears to be getting a wilting leaf with wrinkles.