Just back from my trip, did not interline bags, had to pickup and re-check in PVG, but actually PVG has gotten much better recently, atleast terminal 2. Immigration lines are long at times, but often they will open more windows and bags are out before or about the same time i make it through immigration.

For transit you need to make sure you have a printed itinerary with your passenger name on it. (They asked me both times where my name was.)

Just a tip, if you need to store bags, you can do so at either end of the departure upstairs level, just take the elevator up once you enter the arrival halls, many elevators to choose from.

AA LAX - MU PVG - BKK and then return KA HKG - AA PVG - ORD

I would allow about 3 hours to be safe, but should be ok with 2 hours as long as your flight isn't delayed, which is an issue w PVG.