On the stroke of half-time, after County had battled bravely against non-stop Torquay pressure and a West Country gale, former Stoke keeper Cutler presented the home side with the lead with a comical mistake.
He failed to spot Torquay's Kevin Hill hiding behind him as he rolled the ball to the edge of his area. Hill nipped round and dispossessed him and side-footed the ball into the empty net.
But Lambert took over in the second half.
With playmaker Alex Russell forced off by an Achilles tendon injury after only 16 minutes, the Gulls had nobody to match Lambert's power in the second half and he headed County level in the 47th minute.
Cutler made up for his earlier mistake with a vital save from Torquay striker Tony Bedeau on the hour and the Hatters grew in confidence with the elements behind them.
But just when it seemed they might have to settle for a point, Torquay presented them with all three.
On-loan defender Paul Robinson handled under pressure in the 89th minute and referee Kevin Friend awarded a penalty.
Lambert, whose goal had completed a remarkable fightback to draw 3-3 at Barnsley on Tuesday, stepped up and hammered the spot-kick into the roof of the net.
Stockport's band of travelling fans, who had spent the afternoon facing the wind and rain, staged an impromptu conga on the terraces, while Danny Adams was booked for over celebrating the winner.
But you could hardly blame him - it was only Stockport' fourth win of the season.
The result also halted a mini-revival by Torquay after they had gone three games without defeat.