That's interesting that they will interline the bags. Regardless...
- If you do PHL-TLV-AMM, then 2.5 hours should be fine. I usually, from touch down to entry into the arrivals hall, in under 1 hour. That would leave you with more than 60 minutes. Now assuming they interlined your bags, just go straight to security. Security does not take that long. Clear it in under 10 minutes for sure. And passport control also not too bad. If they didn't interline your bags, then it should still be fine. (This is all the long route. The short route would be transiting in the standard way, but I've never done this in TLV.)
- If instead, you do AMM-PHL-TLV, 70 minutes is tight. To even consider it working, your bags would for sure need to be checked through. I think you're better off with the 11 hour connection and going out to Tel Aviv, as entropy suggested. However, you will already have visited Israel in the begining of your visit. Therefore, I personally suggest the first option (PHL-TLV-AMM).