You may want to experiment a little with a small set of images, but be aware that Raw conversion to JPEG is seldom, if ever really, a consistent change. From there you will be presented with a dialog that provides a number of options for batch processing including using the first image as the basis for further changes, file type to save as, etc.
Select on the menu: 'Tools -> Photoshop -> Image Processor'.Open bridge and find an image directory to work on.However, if you have CS5, that means you have Adobe Bridge and the batch functionality to perform image conversion from there. Well, Facebook isn't going to handle NEF anyways.