You will arrive at the ORD International Terminal to go through U.S.Immigration and Customs. After the whole passport check, you'll pick up your checked bags and then you will redeposit them before heading out of the secure area. The bags should be tagged all the way through to your final desination when checking in with LH at BOM.
To get from T5 to T1 (United), you will take the escalator or elevator upstairs to the tram that will take you to T1. There you will need to go through security again before heading out to the gates.
You will have plenty of time to make this connection. I hope you have lounge access since you will most likely have time to spare before your connecting flight.
You may want to double check to see if your ORD-CLT flight is on United or US Airways metal. It might be a UA codeshare. If so, your flight will leave from Terminal 2 since the US gates are there.
Good luck!