Help with paint

Hi there
I'm currently renovating an old Queenslander and while doing up the bedroom have come across peeling paint, it is coming off in strips and it looks to be quite a few coats thick.
I thought i'd better test the bottom of the strips and found that it contains lead.
Now i don't know what to do, do I have to Strip all the walls or can I get away with just Stripping whats lifting and then use a sealer or something so the rest doesn't peel?
If so what do i I use? They are VJ walls.:?


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