Complex sentence: Joel continued to say that after this release, the band may take some time out and perhaps some members will do solo work or other side projects, after which the band would reform for a final album (or two) and finish up.
Split into simpler sentences: Joel continued to say after this release, the band may take some time out and perhaps some members will go onto do a bit of solo work or dab their hands in some side projects. After this (if the band do take a break) the band would reform for a final album (or two) and finish up.