Many Phals won't mind being repotted while blooming, but some may drop some or all blooms and or buds. But it won't harm the plant. If there is a suspected problem with the potting media, it can be preferable to risk losing the blooms.
For possible mold, you could try pouring hydrogen-peroxide 3% thru the media. You can also soak the roots in it prior to repotting.
Is the mold white and fuzzy, or do you have something black or green? Black or green is quite possibly algae, which doesn't harm anything as long as roots aren't entirely covered and it's not blocking the pot drainage.
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