MCT doesn't apply here since you're not actually connecting in the traditional sense of the word (i.e., same PNR).

I agree wholeheartedly with mbgg.

Since your layover window right now is about as much as is recommended in terms of advance arrival to the airport overall but you'd still have to deal with collecting your luggage and making your was over to the other terminal and all that, I think it's more of a gamble than it's worth.

COULD it work? Yes. Is it worth the risk when you could get to TLV earlier? No.