Yes all of the red eye traits are recessive which is what albino(PEW or Pink eyed White) is.
Nothing wrong with breeding them but like any other rat, genetics plays a huge roll in how well they breed and how long they live.
Pet store rats are a hit and miss as to whether your getting a rat that is genetically sound.
I don't breed albinos because I like to breed colors and color combos and PEW just don't do it for me