An electret mic IS a condenser mic. Neither of which would I want anywhere near a speaker on the same amp.
Condenser mics are designed to be omni-directional high sensitivity.
The problem you are having is why magnetic mics are used on bikes most of the time. Even ceramic mics can be problematically sensitive if not managed properly.
The other common problem is that since the mic and headphone speaker wires run in the same cables, crosstalk can cause oscillation easily if shielding and routing isn't addressed. This is what sounds like your problem is and possibly combined with the possible misuse of an over sensitive mic as well.
I have no way to know which from here but the short answer is... It's either acoustic feedback or induced electrical feedback or both.
You can always run the mic or headphone speaker wires down a different pair to get them away from each other for testing at least to try to see if it solves anything. It's a matter of isolation of several possible causes.