I think I may be failing Classics, but what does that mean for the rest of my classes? It was an elective, but if I fail that, then am I allowed to move on with other classes or am I screwed?

yeah you will be allowed to move on with other classes. You'll just have a 0 on your transcript and you'll have to make up for the failed class by repeating it or taking another class before you graduate

You need at least 24 units to move to level II. However, you need to have 30 units completed for degree requirements.