1. If there are no drainage holes, you need to repot into something that does have holes. Looks like the plant is currently potted in sphagnum moss. I actually have one of my phals potted in LOOSE sphagnum, and it is quite happy, but it looks pretty densely packed in your photo. Most people use a orchid bark mix for phals. i actually kind of like using loosely packed sphagnum because you can stick a finger down into it to see if it is still moist more easily than with bark. I let mine dry out most of the way before watering again.
2. i would unpot the plant and check the roots. If they are mushy and brown, cut them off with a sterile blade. Make sure to sterilize in between cuts. You can boil a knife blade or scissor blades to do this, or use a disinfectant solution. Good roots are usually firm and green. Looks like you have some of both.
3. Definitely get a pot with holes
4. The flowers might just be at the end of their life span, but sometimes changing the plant's environment (humidity, light, etc) can cause flower loss. Is your plant near an air conditioning vent? Drafts can cause loss of blooms too. I usually cut off the flower spike at the bottom after the blooms drop, but sometimes they can put out another spike from the old spike. Yours may or may not bloom again this year, but I usually put my phals outside during the early fall to start the spike. A nighttime drop in temp to about 55-65 degrees will usually put the plant in spike.