Hi,
Sorry for the delay in reply. For some reason just saw you message.
If you are prepared for a long day you can do the following:
Dept Albufeira Station: 07:18
Arr Lisbon Entrecampos 09:56
Return:
Dept: Lisbon Entrecampos 19:20
Arr: Albufeira 22:56
Note: Albufeira Station is 7 km from Albufeira in the village of Figueiras.
Note: It is unlikely you would find taxis there late at night so you would need to have one booked before to pick you up.
Note: At Entrecampos you have links to the Lisbon Metro and Taxis can easily be hailed outside the station to take you to the Baixa (downtown.)(+- Euro 6 depending on traffic)
Knowing Lisbon as I do, I would recommend that one needs at least one full day there, to do the minimum.
(Baixa, Castelo São Jorge, Alfama)
In reality you need a week to do it justice.
Best way from Faro Airport is either to pick up a hire car on arrival or to get a shuttle:
See the following sites which may help:
http://www.low-cost-transfers.com/
http://www.solpraiaferias.com/index.php?content=transfers
Taxi are another option but can be quite pricey - between Euro 50 and 60 depending on number of pax and time of day.