Certified GKH Gardening Expert
Go ahead and cut the flower stalk off. If you want it to grow in size, you will need to prevent it from flowering for a bit.
The thing needs a crazy amount of light, but will tolerate less than ideal lighting. It will be VERY SLOW indoors. Mine (which is Albuca bracteata) is under 300 watts of lighting and STILL quite slow.
Yours is a little faster, so once you get it into bright light, it will take off.
Here are some articles to help you with the general care of Albucas: