Can I catch up the 7:50a.m. flt at Pudong airport if I take the subway train?

we're taking the 7:50am flight to Qingdao at PVG, can we reach the flight schedule if we take the first trip of subway train to the airport? We'll be staying at a hotel near people square. How far is airport train station to terminal 2 check in counter if we walk? How much would a taxi cost from people's square to PVG?