The teleportation should behave just the same with a mixed state as it does with a pure state. I'm going to assume a bit of familiarity with how teleportation works for pure states, as you can find many resources addressing that problem.
We can describe the task of teleportation as follows: systems $M$, $A$, and $B$, our goal is to prepare the state $\rho_M$ (subscript denotes that its currently stored in $M$) in system $B$, using only local operations over $MA$ plus some preexisting entanglement between $AB$. Its simplest to begin with a Bell state prepared over $AB$:
$$\tag{1}
|\Phi_0\rangle_{AB} = \frac{1}{\sqrt{2}}(|00\rangle_{AB} + |11\rangle_{AB})
$$
and so the initial state defined over $MAB$ is given by:
$$\tag{2}
\rho_M \otimes |\Phi_0\rangle\langle \Phi_0|_{AB}= \left(\sum_{i=1}^n p_n |\psi_i\rangle\langle \psi_i|_M \right)\otimes |\Phi_0\rangle\langle \Phi_0|_{AB}
$$
When one works out teleportation for a pure state $|\psi_i\rangle$ its straightforward (but tedious) to show that
$$\tag{3}
|\psi_i\rangle_M\otimes |\Phi_0\rangle_{AB} = \frac{1}{2}\sum_{\ell=0}^3 |\Phi_\ell\rangle_{MA} \otimes \sigma_\ell|\psi_i\rangle_B
$$
where $\{\sigma_\ell\}$ are the pauli operators $\{I,X,Y,Z\}$ and $\{|\Phi_\ell\rangle \}$ are the Bell basis states$^1$ for $\ell=0,1,2,3$. But since the tensor product is linear we can just substitue (3) into (2) to rewrite the initial state before teleportation as:
\begin{align}\tag{4}
\rho_M \otimes |\Phi_0\rangle\langle \Phi_0|_{AB} &= \sum_{i=1}^n p_n \sum_{\ell=0}^3 |\Phi_\ell\rangle\langle \Phi_\ell|_{MA} \otimes \sigma_\ell|\psi_i\rangle\langle \psi_i|_B \sigma_\ell \\
&= \sum_{\ell=0}^3 |\Phi_\ell\rangle\langle \Phi_\ell|_{MA} \otimes\left(\sum_{i=1}^n p_n\sigma_\ell|\psi_i\rangle\langle \psi_i|_B \sigma_\ell\right)
\end{align}
So now the teleportation protocol can proceed just the same as with pure states: Perform the measurement $\{|\Phi_\ell\rangle\langle \Phi_\ell|\}$ on $MA$, classically transmit the measured bit $\ell$ to $B$, and then have $B$ perform a recovery operation $\sigma_\ell$ to get back the correct state.
It might help to view how this works using an ensemble description of $\rho$ where we can describe $\rho$ as a classical distribution over states $|\psi_i\rangle$ that are drawn with probabilities $p_i$:
$$\tag{5}
\rho = \{(p_1, |\psi_1\rangle), \dots, (p_i, |\psi_i\rangle), \dots (p_n, |\psi_n\rangle)\}
$$
From this perspective, every time you run the teleportation protocol you can imagine that you are actually randomly drawing and teleporting a pure state $|\psi_i\rangle$ with probability $p_i$. Then the the distribution of teleported states is still just $\{(|\psi_i\rangle, p_i)\}$. This makes it clear that the mixed state teleportation will work regardless of what entangled state over $AB$ you begin with.
Additionally, what would happen if $|\phi\rangle$ is one of the pure states $|\psi_i\rangle$ that $\rho$ is composed of?
I don't think this make sense. To teleport an $s$-dimensional state you will generally require entanglement over a $2s$-dimensional system $AB$. For example, it would not make sense for us to include $|\Phi_0\rangle \langle \Phi_0|$ in the ensemble $\rho$ because the dimensionalities of systems $M$ and $AB$ are off by a factor of two
$^1$ There are many choices for Bell basis states; for concreteness you can consider the basis
$$
\{|\Phi_0\rangle, (\sigma_1\otimes I)|\Phi_0\rangle, i(\sigma_1\otimes \sigma_3)|\Phi_0\rangle, (I\otimes \sigma_3)|\Phi_0\rangle\}
$$