Though you won't be teaching us anymore next semester, I'd be happy if I were to run into you on the street - at least I'd have a chance to say hi.
根据你的叙述,后半句必定是要用虚拟语气 were + 不定式,而且看来这个机会随着他的离去将会很渺茫;因此按照你想要表达的意思,我改动一下,写为 “如果能在路上遇见你我会很高兴 - 至少我还能有机会跟你打个招呼”
Althought you are not teaching us next year, but i will be happy when i meet you on the street because i still have a chance to say hi to you!