Non-adiabatic processes near conical intersections are rooted in the stronger coupling between electronic and nuclear degrees of freedom. Using a system of two trapped Rydberg ions, their high polarizability and strong dipolar interactions allow to form a conical intersection, where dynamics takes place on a microsecond time scale. Rydberg lifetimes are typically from a few to tens of microseconds, which could affect the conical dynamics. We study the effect of the finite lifetime of the Rydberg state on the vibronic dynamics around the conical intersection via analyzing the master equation. Through mean field and numerical calculations, damping dynamics are found in both the phonon populations and electronic states depending on the initial states. It is found that oscillatory vibronic dynamics can be seen clearly within the Rydberg lifetime, permitting to observe the conical effect in the trapped Rydberg ion system.