I wouldn't waste my money if I was you. Absolute Junk. I'm really sorry that your bike got stolen. I would save up a few hundred dollars more and start looking on eBay, and craigslist. A good, new bike is going to cost you between 400-500 bucks, and that's for something "entry level". There are some good single speed, and fixed gear bikes that you can purchase brand new for pretty reasonable (Bianchi San Jose, Redline 925, Swobo Sanchez, etc.). It's pretty amazing what you can get when you pay a little extra. No, I'm afraid that the Huffy is NOT going to be ok. It may be better than walking, but only for a little while. If anything, take your hundred bucks and buy a really good bike lock, so next time there won't be a next time.
Good Luck.