Hi from a newbie!

My husband participated in TNT's century ride in Lake Tahoe last year. I went along for moral support and decided that I want to do the ride some day. My dad's boss gave him a Pinarello Prince SL (2006, maybe?) last year and he is no longer able to use it due to recent surgery. He has offered it to me and I would love to be able to use it for a TNT ride next June. I don't know the exact specs, but I'm pretty sure it is 54cm (possibly a 52cm, but I can't figure out how to tell). My dad and I have the same inseam of 32". I'm 5'7" and he is just over 5'8" with more length in his torso. Is it possible that this bike will work for me? I will have it properly fitted at a bike shop my husband frequents. Is this kind of bike okay for a century ride?

I'm in decent physical shape and workout at the gym regularly, but I have never been a cyclist so I'll need a lot of training.

P.S. - The JET in my user name is the intials of my 3 kids. It's not because I'm fast.