B737-300 EXPERIENCES TWO GPWS WARNINGS ON NIGHT VISUAL TO RWY 26 AT ABQ.

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WHILE BEING VECTORED FOR A VISUAL APCH TO RWY 26 ON L DOWNWIND; WE WERE INSTRUCTED TO FOLLOW TFC ON BASE TO FINAL. WITH TFC IN SIGHT; WE PLANNED ON TURNING BASE TO FINAL AT 3 DME FROM THE RWY AT 1000 FT AGL. WHILE ATTEMPTING TO MAINTAIN TFC IN SIGHT AND WITH A SIGNIFICANT WIND FROM THE W; OUR FLT PATH DRIFTED FURTHER E THAN INTENDED. WHILE ON A L BASE; WE RECEIVED 2 GND PROX CAUTIONS. AFTER THE AUTOPLT WAS TURNED OFF; THRUST WAS ADDED AND A CLB WAS INITIATED. HOWEVER; NEITHER A GAR NOR THE TERRAIN AVOIDANCE MANEUVER WAS EXECUTED. THIS WOULD HAVE BEEN THE APPROPRIATE COURSE OF ACTION DUE TO NIGHT VMC. WHEN THE TERRAIN HAZARD NO LONGER EXISTED; WE CONTINUED THE VISUAL APCH TO LNDG. SITUATIONAL AWARENESS NEEDS TO BE MAINTAINED TO ENSURE PROPER GND TRACK. A 3 DME FIX FROM THE RWY WAS CREATED IN THE FMC; BUT WITH HDG MODE SELECTED ON THE MCP; WIND DRIFT WAS NOT ACCOUNTED FOR. FLYING AT NIGHT IN MOUNTAINOUS TERRAIN OR WITH OBSTACLES PRESENT; PROPER PROCS MUST BE EXECUTED. TRUST THE GPWS AND EXECUTE A GAR OR THE TERRAIN AVOIDANCE MANEUVER.