I am sure that both pharmacy and pharmacology at U of A are very good. I think it is better than U of T because any thing related to medical at U of A is excellent. If you want to transfer to U of T, you may not get all credits from U of A for any University has different courses and requirment. So it is hard to transfer from University to another in Canada. I suggest you to finish your degree in one university bacause it will save time and money. Hope this helps.
I am sorry to hear that. If you have missed the application deadline, U of A will not let you in because they don't accept any late application form. You said that you want to go for engineering and transfer to Parmacology next year. You should know that engineering and Parmacology are totally different with different courses so you may not get any credit when you are in Parmacology. My suggestion is if you really like parmacology you can take some option courses this year and apply for next year. If you like engineering, then go for it. Hope this helps.