I see Continental has a limit of 3.4 ozs of liquid in a carry on....there is no way 3.4 ozs of shampoo/conditioner is going to get me through even one day. Can I pack a larger bottle in our checked in luggage?
The 3.4 oz rule is imposed by the TSA, not by the airline.
There is NOT a limit of 3.4 oz of liquid in a carry-on. You can have several containers, each up to 3.4 oz (100 ml), as long as they all fit into a single clear plastic 1-qt zip-top bag. And each passenger can have one of these 1-qt zip-top bags.
For more details, see
http://www.tsa.gov/311/
You can put larger liquid containers in your checked bags, but pack them so that they don't break or leak, even if your bags are dropped or crushed under a thousand pounds of other bags.
You're asking about Continental Airlines. Be aware that the Continental Airlines brand is being phased out due to their merger with United Airlines. Continental signs are coming down and United signs are going up. Aircraft are being repainted. Depending on when you fly, your flight might no longer say Continental.
Also do they weigh each piece of luggage to make sure its under 50 lbs? Or do they weigh all pieces together (if we have 3, it has to weigh less than 150?)
Each bag has a maximum weight of 50 pounds.
If you're checking three bags, and one is 55 pounds and the other two are 15 pounds each (total wight of 85 pounds), you'll pay a hefty penalty in addition to your bag fees. But if you're checking three bags, and each is exactly 50 pounds (total wight of 150 pounds), you'll only pay the bag fees, no penalty.