On a related note, if you want to solve this equation graphically, you can plot it as a (degenerate) nomogram with oriented transparency.
In that form, the equation looks like:
$$0 = (e^{-\alpha/2}-P) - \frac{1}{F+1}e^{-\alpha/2 \cdot (F+1)}$$
or putting $Q \equiv \exp{(-\alpha/2)}$,
$$0 = (Q-P) - \frac{1}{F+1}Q^{F+1}$$
To make the plot,
Create a coordinate chart with an x and y axis.
The values on the $x$ axis will correspond to values of $Q$.
At select values of $x=Q$ along the $x$ axis, solve for the corresponding value of $\alpha$. Namely, $\alpha = 2\log{Q}$. Include that $\alpha$ value at that point, next to the label for the $Q$ value. These values will let you translate between $Q$ values and $\alpha$ values.
For example, at the point $x=1$, write $\langle Q=1, \alpha=0\rangle$. At $x=5$, write $\langle Q=5, \alpha \approx 1.40\rangle$.
Choose various values of $P$ of interest. For each value of $P$, draw the curve $y(x) = x-P$. Label the curve with that value of $P$. (These curves are straight lines.)
Choose various values of $F$ of interest. For each value of $F$, draw the curve $y(x) = \frac{1}{1+F} x^{1+F}$. Label the curve with the value of $F$. (These curves are polynomials/exponentials.)
Each $P$ curve meets each $F$ curve in exactly one place, and you can read off the $\alpha$ value by looking at the x-coordinate of that intersection.
Because of these strong geometric constraints, you can actually solve for any one of $\langle P, F, \alpha\rangle$ given the other two. (For example, to solve for $P$ given $F$ and $\alpha$, locate the $F$ curve and see which $P$ curve it intersects at the $x$ coordinate corresponding to $\alpha$.)