Hi, I understand you would like to know how long Amazon Linux 1 AMI will be available once the maintenance support ends on December 31, 2023. Please, let me know if my understanding is incorrect.
Yes, you are correct that you will be able to launch Amazon Linux AMIs after the maintenance period. As of now, we do not have any official date on exactly when that will end but please be assure that we will update our policy that will allow our customers enough time to make any updates.
I would also like to add on that we do recommend that existing Amazon Linux based compute environments to Amazon Linux 2 so that you continue to receive security and other updates and Amazon Linux 2 offers long term support until June 30, 2025. 
In case you are further interested, to migrate to Amazon Linux 2, you have to launch an instance or create a virtual machine using the current Amazon Linux 2 image and install your applications, plus any required packages. Then you can test your application, and make any changes required for it to run on Amazon Linux 2. 
There is also preupgrade assistant that makes it easier to migrate to Amazon Linux 2 from Amazon Linux AMI. 
I hope this helps. If you need further info, let me know in the comments; otherwise I'd appreciate if you mark my answer as "accepted".
Kind regards, Rochak from AWS
 Amazon Linux 2 FAQs - https://aws.amazon.com/amazon-linux-2/faqs/  Migrate to Amazon Linux 2 https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/amazon-linux-ami-basics.html#amazon-linux-availability  Amazon Linux 2 Preupgrade Assistant - https://aws.amazon.com/about-aws/whats-new/2019/03/announcing_the_amazon_linux_2_preupgrade_assistant/
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