Batteries are classified by a number of measurements, things like internal resistance, how the internal resistance changes with temperature, mass, volume, etc. But for most work, two numbers give you a good way of approximating what you need to know.
These are 'nominal voltage' and 'nominal capacity'. Voltage is measured in volts, and capacity is measured in ampere-hours. A very rough approximation is that voltage is like the pressure in a tank, and capacity is like the volume of the tank.
Now, since an ampere is simply 'so many electrons moving past a point per second', an 'ampere-hour' is really just another way of saying 'so many electrons', and the ampere-hour capacity of a battery is a way of describing how many electrons that battery can push through a load. An ampere hour is simply the number of electrons that would move if a current of 1 ampere were to flow for 1 hour. You calculate the value by multiplying the current times the time; 1 amp for 1 hour or 10 amps for 6 minutes or 10 milliamps for 100 hours are all 1 ampere-hour worth of electrons.
A _very_ important way in which a battery is different from the analogy of a 'tank of electrons' is that the total number of electrons in the battery stays constant both during charge and discharge. The battery will push the electrons through an external load, from the negative terminal, but they always return to the battery, at the positive terminal. During the trip the electrons are going from a high energy state to a low energy state, and giving up that _energy_ to the load, but the total number of electrons stays the same.
If you wish to recharge the battery, then you have to connect an external device (the charger) that pushes the electrons in the opposite direction, from the positive terminal back to the negative terminal. To recharge the battery, you need to push the same quantity of electons back as the battery pushed through the load. Thus you need the charger to move the same number of amp-hours through the battery as the battery moved through the load.
If the battery is fully discharged, then you know roughly how many amp-hours have moved through the load, since this is just the battery capacity. So you want to run that many ampere-hours through the battery to recharge it. Say the battery capacity were 1 ampere hour (which is the same as 1000 milli-ampere hours), and the battery is fully discharged. Well, you could run a current of 1 amp for 1 hour, or 100mA for 10 hours, or 5 amps for 12 minutes in order to push the proper number of electrons around, but there are a few other factors to consider.
One is that batteries can only really accept charge at a maximum rate, usually the 'C' rate, meaning the rate that would charge the battery in about an hour.
Two is that there is always some inefficiency; to fully charge a battery, you usually have to move something like 1.2x the theoretical charge.
Three is detection of end of charge. Once a battery is fully charged, any additional current flow goes into electrolyzing the water in the battery into hydrogen and oxygen, which will cause the battery to heat up or explode. In general, you can't charge a battery at the 'C' rate unless you have some mechanism for detecting when the battery is fully charged.
If you charge at a low enough rate, then any overcharge that occurs overcharge will do only minimal damage to the battery, and will not cause an explosive failure. For most NiCd batteries, this is the C/10 rate, for most NiMh this is a somewhat slower rate (in that some capacity damage will occur), but you can _safely_ charge at the C/10 rate.
So a _simple_ charging scheme is to take the nominal battery capacity (in ampere hours), and divide by 10 hours, to get a nominal charging current in amperes. You then supply this current to the battery for 12-15 hours (theoretical 10 hours, plus extra for inefficiency).
Now, the charger that you have is rated at 150mA. Take the capacity of the battery (in milli-amp hours), divide by 150, to get the theoretical time for a full charge (in hours), and then multiply by 1.2 to deal with charging efficiency. This should give you a ballpark number for how long your batteries should be in your charger.
-Jon