When I played that matchup I spent a good amount of time figuring out when and where he would throw out a drive, and once I felt comfortable, I fish with 6c. It sounds risky, but we can look at all the options that Lambda has in neutral that it beats.
Spike Chaser
All Drives
Sickle Storm
What it will NOT beat, and what eventually knocked me out of NCI vs PAIN, a lambda player, is Legacy Edge. Because the super is guarenteed after superflash, I woud repeatedly fatal counter him, but then be punished with a full corner combo on trade.