Setup
Consider the metric for a spherically symmetric and isotropic spacetime: $$ds^2 = -B(r)c^2dt^2 + A(r)dr^2 + r^2d\Omega^2.\tag{$\Delta$}$$ With this metric we can find (with the geodesic equation) the following equation's, that characterize the movement of a particle/photon $$\begin{align*} \theta &= \pi/2,\\ r^2 \frac{d\phi}{d\lambda} &= const. \equiv l,\\ B(r)\frac{d t}{d\lambda} &= const. \equiv F,\\ A(r) \left(\frac{d r}{d\lambda}\right)^2 + \frac{l^2}{r^2}-\frac{F^2}{B(r)}&= const. \equiv -\varepsilon, \end{align*}$$ where the value of $\varepsilon$ is either $0$ (photon) or $c^2$ (particle). If we specialize to the Schwarzschild case we find $A=1/B$ and $B=1-r_s/r$, $r_s\equiv GM/c^2$. In this case we can bring everything together to $$\frac{1}{2}\left(\frac{d r}{d\lambda}\right)^2 + V_{\rm eff}(r) = const.\quad V_{\rm eff}(r)\equiv -\frac{a\varepsilon}{r}+\frac{l^2}{2r^2}-\frac{al^2}{r^3}.$$
Question
I have trouble understanding the relationship between $t$ and $\lambda$. As far as I understand eq. $(\Delta)$ is from the perspective of an external observer, meaning that an external observer chooses a coordinate system $(t,r,\theta,\phi)$ and describes the motion of the object in question as the evolution from some initial spacetime point $(t_0, r_0, \theta_0, \phi_0)$ parametrized by $\lambda$. Let us now for example say that we are dealing with a massive particle, then we can choose $\lambda$ to be the proper time of the particle $\tau$ (I think at least we can do this). We then have $dr/d\tau$, which I would read as the radial velocity of the particle as function of the time measured in the reference frame of the particle. But what if I would like to know the radial velocity in my reference frame, aka $dr/dt$? To calculate that I would need $d\tau/dt$, which can't be determined in general (or can it? I think it should be possible if we assume that the particle moves only in radially.) So, what I would like to know is what exactly the connection between the two quatities $t$ and $\lambda$ is.