If you want lossless, it's going to take up a lot of space. PNG wasn't ever meant to compete with JPEG in terms of filesize.
If you do go that route though, I've found that the PNGOut plugin used with Irfanview gives very good compression for PNG files, and with Irfanview's batch function, you can run a whole slew of files through PNGOut with little effort on your part. It does have an upper limit on the filesize it can handle, though I'm not sure if this limitation is published anywhere. I haven't really bothered to look, either. Be warned though, it can take a long time to compress images, as it can make more than 10 passes per file; it determines the number of passes to make, or else you can specify a limit, though this can greatly affect its final compression ratio.
So do an initial save in your photo editing program, then set Irfanview to do a bunch of batch conversions, and go to bed. Make sure that PNGOut's box for Close Progress Bar When Done is checked, or else it'll just sit there idle when it finishes the first file.