I am about to finish my website that is done in flash. I remember a few years back that some websites had a link to an alternative static website. Is that old school? I’m wondering if I should do that?
The alternative content should be provided within the page where the Flash information is given, though the very nature you have created an entire site using Flash will reflect poorly in terms of compatibility as Flash is becoming increasingly incompatible for people using handheld devices. Linking to a static version would be one option, but it would be better to not use Flash obtrusively in the first place as it’ll be your visitors who will suffer as a result. 
If it accurately represents everything contained within the flash file, then sure that’ll work 
I think I will create a really cool blog section that will service as a static website. How does that sound? 