There is no need to do ghusl because of this discharge, and it does not affect the fast. With regard to prayer, wudu must be done for each prayer after the time for the prayer has begun, if the flow is continual.

A person who suffers from urinary incontinence and constant wind should do wudu at the time of each prayer, and pray as much as he likes with that wudu until the time for the next prayer begins.

Sex during periods is prohibited not just because of the blood, rather it is for many reasons as stated in the detailed answer below.