An engine MODEL NUMBER would help...
In any event, that part with the ball bearings is for the starter.
They engage the pull starter, then they get thrown outward with
centrifugal force once the engine is running.
That entire assembly is what holds the flywheel to the crankshaft.
If you lock up the engine, just use a short 2x4 and a hammer to wack
the outer tabs CC. That'll then rotate off.
Once at the flywheel, remove the coil so it doesn't get damaged.
Put a pry bar between the block and flywheel holding moderate pressure
upwards (pushing the flywheel AWAY from the block).
Again, wack the crankshaft with a hammer. I'd put a piece of somewhat thin aluminum
or wood where your going to be hitting (so as not to damage the crank).
The flywheel should pop off giving you access to the points and condenser..
.