You are really scaring me. I would definitely stop for at least a month. If the bleeding recurs, a trip to the urologist is guaranteed. You only have one penis. A small penis is better than an injured penis.
Its usually nothing to get concerned about; its perfectly natural. You should cease workouts for a day or two, but it is analogous to a bloody nose, it just goes away. Also, you will find that your urethra will build-up a resistance to PE activities and will be a lot less susceptible to these tiny ruptures. Your goal should not be to cause ruptures, so back off a touch to give your body a chance to build internal structures.
Take anything and everything that DutyQuest has posted with a large grain of salt.