I would suggest that you will see more staying on the bus to Lagos. Let the drive take the strain.
There are only two routes along the Algarve coast.
- the Old EN 125 (which the bus follows in parts)and which is not exactly scenic.
- the A22 Via de Infante arterial motorway.
When you arrive in Lagos, hire a car and explore from there.
Remember that the Algarve region is only 45km by 160kms wide and can easily be explored by day trips from Lagos.