For either mollys or guppys is best to have at least 2-3females per male as otherwise the males will over-harrass the females if there are too few of them to the males.
Do you know what variety/s of mollys you have? There are many different varieties which vary a lot in how big they'll grow, if you post pics i can ID them for you.
How many males and females do you have with the guppys and mollys? I wouldn't advise buying anymore for the time being. If you want to ensure that the fry make it to adulthood, i would advise buying a tank of around 5gallons to raise the fry in separatly, as a lot will get eaten by the adult guppys and mollys and convicts etc.
I've heard that convicts can be quite territorial towards fish like mollys and guppys when they have fry, so i wouldn't personally advise mixing them together.
edit: ah i just noticed you said "i am thinking of getting guppys and mollys", not that you already have them- sorry for the mistake.
Personally i would choose between either having the guppys or the mollys but not both. Mollys can be more demanding to look after, and their fry can take up to a year to mature. Personally i would advise opting for guppys instead, as they are simple to look after and their fry only take 3months on average to mature. I think you would be better off though having a separate tank of at least 10gals to put the guppys in rather than mix them with the convict cichlids, guppys and mollys wouldn't stand a chance against a pair of convict cichlids if they did decide to pick on them.
If you go for mollys, you will need at least a 12-15gallon long tank to keep them in.