The orchid is almost done blooming. But the root system has grown like crazy. Is it ok to wait until it's done blooming? I can't decide if it's too pot bound for it to stay healthy, or if it's ok.

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Hi Alyssa,
Sure you can leave alone until it's finished blooming!

Thank you! It looks a little compact and drinks more water these days soI was getting a little concerned.

No problem...just move it up one pot size and it'll be happy. If it's just got a couple of blooms left on it you can do it now as well. If so, I would just go ahead and cut the flower spike off so the plant can put all its energy into settling into the new pot. It will probably skip a season of blooms so don't be concerned. Those Phals. normally start their flower spikes when the evening temperatures start to drop. I used to keep mine on my porch in NC until the fall and left it out there for a month or so when the night time temps were in the 60's high 50's. I would see the spike around December or January.
If you haven't already done so, check out the pinned posts at the top of the forum there's TONS of helpful info there for you and lots of it is specific to Phaleanopsis plants.
Stay in touch and let us know how it's going for you!