You do not have 2:20. You have 1:20 and that is from the time the brakes are locked on your inbound to the time the outbound flight pushes. Europe is a big place and you have not told us your citizenship or whether you have Global Entry (which also affects access to Pre-Check). You would almost certainly miss the WN bag cutoff (which requires bag checked, not being in line).
Bottom line is that you would be very lucky if you made the WN flight. More likely that you no show and spend the night and have to purchase a new ticket for a morning flight.
If cost is a concern, I would definitely book the morning flight and a cheap LAX hotel.