Depending on how long he is at school, I wouldn't wait too late in the day to give him his first dose. If he is going to be running and playing at school, he is most likely going to start coughing, therefore, needing the Albuterol. Maybe you could give it to him the first thing when he wakes up.
I agree with Sherry that it is probably a hit or miss thing as to whether or not it will make him hyper or not. I am 56 years old and have had severe asthma for over five years. I was started out on Albuterol in my nebulizer. I couldn't handle it. It really gave me the shakes. I would venture to guess, though, that the majority of asthma patients probably use Albuterol. I use Xopenex in my nebulizer and now as an inhaler.
Keep us posted and let us know how he does.