Yes, walking will be the fastest option. From T5 to T2 is about 8 minutes. Use the crosswalk in the lower arrival level towards the LAX theme building and continue to the other side. I have walked this route about 100 times... it's very easy.

You can even shave a few minutes off if you cut across the parking structure. Although you will need to dodge cars and clueless drivers.

http://maps.google.com/maps?saddr=la...via=1&t=m&z=17