Felix, 21, said Beijing gold was now her top target after her silver in 2004 and with Florence Griffith-Joyner's 1988 world record of 21.34 apparently out of reach.
"My next goal is not the world record, but a gold in Bejing. I want to take it step by step," she said.
"I might consider doing both -- the 200 and the 400 metres -- there.
But even if I run the 400 metres more often, I would never give up the 200 metres."
Felix had earlier expressed disappointment at being pulled from the 100m. But her astonishing run vindicated the decision of coach Bobby Kersee.
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"I have been waiting for so long to run such a time, to run under 22 seconds," said the delighted American.
"It has not been an easy road, but finally I managed it. Running so fast feels great."
Campbell, who beat Felix at the last O