Definitely not Retayne. Retayne sets dyes, so you could wind up with red all over the white.
Since the fabrics in the quilt are vintage, the instructions that we typically give for more modern fabrics may not be correct. Do you know that the fabrics are all cottons? Are there any stains or other problems with the quilt?
Here's one site that addresses cleaning a vintage quilt -
http://laundry.about.com/od/laundryb...antiquilts.htm