How adventuresome are you? You have the perfect setup to turn this project into water culture.
The thread "Does anyone do water culture?" in
Orchids forum
Keep the setup you have and keep the water level at a point were it covers somewhere between 1/4 and 1/3 of the roots.
BTW, your plant looks really good. Nice green roots, green leaves. Flowers fade and die so don't worry about them. If the flower stems don't turn brown, don't cut them. They will bloom again.
Well cared for Phalaenopsis will bloom for 6 months or more a year.
