Originally Posted by
europa
A second route is to buy a cheap(ish) bike already built and use that to learn about fixed gear - there's a really good chance you'll find the reality doesn't match your expectations but you WILL learn where you fit in and enable you to plan your next, expensive bike. A bike that's too poor to ride properly will not give you this experience. As a bonus, your current bike will still be there for beater duties.
This +1
A schwinn continental is not really a good candidate for conversion, it has a one - piece ashtabula (I think that's how it's spelled) crank and a matching BB for it. For starters you'll need an adapter to retrofit the frame for modern 2 piece cranksets if you plan to do so in the future. The continental is made of cheap high tensile steel tubing meaning it'll be heavy to boot. Considering the amount of cro-mo 80's bikes out there with modern BB shells and lighter tubing and not to mention not in need of fork replacement, I'd definitely leave this as is and start elsewhere unless this bike embodies some emotional or sentimental ties to you worth spending on.
If you choose the path of retaining a more stock geometry by going with another 27" fork but upgrading to a modern 700C wheelset out of convenience and modern dual pivot brake caliper, you'll need a long reach caliper.