As far as main campuses go, UA is more reputable than UALR. However, when it comes to law schools, they are both equally reputable. I've heard some say that the UALR law school is better because you will be at the heart of the legal community in Arkansas. The only area where UA would surpass UALR is in agricultural law. Otherwise, you are better off at UALR.
I must note, however, that because the UALR law school is associated with the UALR main campus, employers who are not familiar with the two law schools tend to think the UA law school is better (only because the UA main campus is reputable). This is changing as you see more UALR law alumni getting high positions in government and the private sector.