There were a few typos in there, but I think this does what you descibe:
var cti = timeToFrames();
var tli = thisComp.layer("Controller").effect("TarLight 1 on")("Slider")
var tlo = thisComp.layer("Controller").effect("TarLight 1 off")("Slider")
var tli2 = thisComp.layer("Controller").effect("TarLight 2 on")("Slider")
var tlo2 = thisComp.layer("Controller").effect("TarLight 2 off")("Slider")
var frames = 1 / thisComp.frameDuration;
var fadeFrames = thisComp.layer(1).effect("Fade Time")("Slider");
var fadeTime =fadeFrames / frames;
var st = tli / frames;
var et = tlo / frames;
var st2 = tli2 /frames;
var et2 = tlo2 /frames;
gray = [99, 102, 106, 255]/255
blue = [3, 169, 244, 255]/255
if (cti < tlo)
ease(time, st, st - fadeTime, gray, blue)
else if (cti < tlo + fadeFrames)
ease(time, et, et + fadeTime, blue, gray)
else if (cti < tlo2)
ease(time, st2 - fadeTime, st2, gray, blue)
else
ease(time, et2, et2 + fadeTime, blue, gray);