There is no bus station at Lisbon Airport. A metro link is being constructed but will only open within the next couple of years.
Take an Aeroshuttle bus from Lisbon Airport to Gare Oriente Train/Bus Station - see note below) to Gare Oriente Train Station about 10 minutes from the Airport.
Aeroshuttle (CARRIS Nº96) - Available everyday, every 30 minutes between 7am and 11pm, the aeroshuttle connects Gare Oriente - Airport - Entrecampos - Sete Rios - Praça de Espanha.
Tickets (3,50€) can be purchased onboard and also in the Tourism Office at arrivals (public area).
From Gare Oriente Train/Bus Station get a Renex bus to Albufeira.
Website: www.renex.pt
Timetables: Download timetables via my blog as indicated above. (RENEX Bus Service - Lisbon to Algarve timetable)
Note: Ask for a ticket for Albufeira. There will be a bus change at Vale Paraiso, the stop before Albufeira.
There are departures, currrently, at 11:00 arriving Albufeira at 14:10 and a departures at 13:00 arriving 16:10
Timetable in pdf format here: http://bit.ly/bfjtbB