Does the pot that you have selected have drainage holes? I am assuming that it does.
The first think my experience tells me to suggest to you is to remove the keikie! Yes, that might seem harsh but your Phalaenopsis is in trouble. The root system became compromised by staying in wet, decomposing media for too long. One year is great, but repotting every two years is all right. Those roots need oxygen to breathe and survive. Without it they die. When the viable root system is not as large as it should be, the plant looks shriveled. A keikie can be the plants reaction to try and save itself long term. When you finally repot a Phalaenopsis with a compromised root system, it typically takes 4-6 weeks to form new roots. Then in time those roots absorb more water and the leaves plump up.
The reason you want to remove the keikie is because you want the plant to make new roots and promote better health. You don't want the orchid to split its energy or resources on a keikie. The baby orchid ends up compromising the health of the mother orchid.
Remove the dying leaves, they will never return to good health. The mealybug attack coupled with delayed repotting has lead to the plants poor health. No disease is to blame.
