need help wiring Lionel Maiden Rescue

Using a CW-80 I don't think will work. In order to use a insulated track set-up you need the 2 U posts on the CW-80 to have a common ground together, which I don't think they do. The only way it will work is you will have to rewire the accessory where the lamp is a separate circuit from the coil, and don't share a common ground.

So, is there a way to use this with CW-80 and insulated fastrack if lights and action are powered together?

The only way I know of to vary the illumination is wire the light by itself so it has a different power supply.

Been a long while since I helped wire one of these. IIRC in your drawing the "2" post is power to it, the "1" post is common for the light, and the "3" post is operation common switched via the 2 and 3 post of the track trigger. I have forgotten if 1-3 or 2-3 is completing the circuit by train weight which would be the same as an insulated track.

https://www.lionelsupport.com/...ents/71-4154-250.pdf

The new manual shows it hooked to a 153IR via the normally open terminal but has power to terminal 1, ground to terminal 2, and trigger to terminal 3.