Even in quick speech, there would be no contractions. While 'would' is often contracted to 'd' in speech, it isn't contracted when it's in initial position in a question, so you'd pronounce the full form of the word 'would' here.
Unusually, there are no schwas in this sentence, either. In mid-position, 'for' would normally be weakened to /fə(r)/, but here it comes at the end of the question, so it needs its full form. The only weakened syllable would be the auxiliary 'be', which might be reduced to a short 'bih' sound instead of the full 'bee'. The 'I' might also be shortened, unless you're emphasising it ( as in "What would I be looking for? as opposed to "What would you be looking for?")
Personally, I'd say it something like this, with the primary stress on the 'look':
/wɒʔ wʊda bɪ lʊkɪŋ fɔː/
Note the ʔ, which is a glottal stop where the 't' is kind of swallowed, and the way that the word 'I' (when not emphasised) follows straight on from the 'would'.
Of course, there are many different native-speaker accents, so other English speakers would say this in different ways.