How to recreate this font "Rock 'n' roll"?

Wouldn’t the image trace tool be of use in this situation?

As others have indicated, you would need to draw the letters by hand. You could reuse some of the existing letters or trace them with the Pen tool. Letters like "U" which aren't on the poster, you would need to visualize and draw from scratch.

If you don't want to do that, look for a decorative font on the web. There are many out there, and many that are free. You won't find the exact same font because the one you show in your screen capture was hand drawn, but you might be able to find one that you like and can use. Some font examples: Manhattan Darling, Justin Road, Leika -- there are hundreds to choose from.

What is it exactly that you need help with--the technical how to? Or how to design the type?

To create the typeface, it would probably be a good idea to start with pencil and paper (I know, old school--but it really does work best) and trace over the current letters--you have quite a few that are already designed for you and the rest you can base on other letter styles. Then Once you have the word designed, scan it into Illustrator as a template.

Then it looks like there are two layers to each letter--the color and the outline and they will need to be created separately. If you are unfamiliar with the Pen tool, visit: How to draw with the Pen, Curvature, or Pencil tool in Illustrator

Michelle

Mastering the Pen Tool and utilizing  that skill  along with guidelines the only  way I can think of,

Usually, you do that by drawing the characters manually. Just like the folks did it in 1969.

In Illustrator you can use brushes or some "distort effects" in order to make it look a bit more hand-made. Or just draw it carefully with the Pen tool.