Essentially there are no cheap easy routes!
1)Bus/train Alvor/Portimão to Faro.
2) Bus - Faro to Seville
3) Bus - Seville to Malaga
Anoth possibility is:
1)Bus/train Alvor/Portimão to Faro.
2) Bus - Faro - Faro Airport
3) Air by Ryanair - Faro - Madrid
4) Air by one of the lowcost operators - Madrid - Malaga.
AIR EUROPA
SPANAIR
VUELING AIRLINES
For the Portuguese segment see this site:
http://www.solpraiaferias.com/index.php?content=cheg_en
For flights Madrid - Malaga see:
http://www.aena.es/csee/Satellite?cid=1049727006261&pagename=Estandar%2FPage%2FAeropuerto&SMO=7&SiteName=MAD&c=Page&MO=1