That's plenty of time, even if interlining does not work. Personally, I would just collect my luggage and re-check it (unless of course you want to avoid Mexican customs for whatever reason).

MEX has some excellent dining options in both terminals (Barraca Orraca for Mexican, Casa Avila for Spanish, along with ample food courts), and a small outlet (with exhibit) of the National Anthropology Museum in T2.