OP here.
I will not have any checked baggage, so I do not have to worry about that. Also, the AM website shows another MEX to MID flight at 5:20pm (4 hour connection), but CO did not give me that as an option.
If I miss the connection, any idea if AeroMexico would put me on a Mexicana flight... or just AeroMexico? There seem to be numerous Mexican flights between MEX and MID.