I just picked up five Gigas 1 male and 3 females and 1 uncertain....I got them from a reputable LFS and the owner was the breeder.
Congrats! I've never kept them, but they look very nice.
I have no experience with these fish or with keeping females at all , and to compound matters I got up today and found that I have 2 females holding!! What the....arent they too young for this?
It's hard to answer that because you never posted how old/large they are.

Typically mbuna start spawning earlier than most other malawians IMO (earlier than the peacocks, haps, etc).
Anyway I am in over my head....what do I need to know about raising fry?
Do I need a separate tank or will they survive with the others?
The mother will mouthbrood the eggs/fry for 3-4 weeks. Sometimes they spit the eggs/fry early and don't hold to term when they first start breeding, so don't worry if this happens. There's always "next time". You don't necessarily need a separate tank, but you'll at least want to get a breeder net that you can hang on your existing tank to keep the fry separate from the others. You can either move the female to the breeder when she's been holding for 2-2.5 weeks and let her spit the fry naturally (probably add some plastic plants/etc for the fry to hide in once they are released) or around the 3 week mark catch her and "strip" the fry manually.
"Stripping" is carefully holding the female head first into a container and carefully opening her mouth so the fry come out. Since you're new to breeding mbuna, I's suggest letting her spit naturally the first few times. Stripping done properly is typically fine, but there's always potential for accidental injury to the mother or the fry.
When the mother releases the fry on her own, she may take them back when in danger (aka when you come up to the tank). Eventually she'll lose interest in them so when you're present and the fry are out, it's time to remove her back to the main tank. Typically the female won't eat the fry until at least 3-5 days after she's lost interest in them IME.
For feeding the fry, presuming they've used up their egg sac, they should be large enough to eat finely crushed flake food.