Where is your next destination - domestic or international? Baggage close off for VX domestic flights is 45 minutes or 60 minutes for international flights which means your flight ex LAX will close for baggage acceptance at 1000 or 0945.
It's not something I would attempt unless I was through checked onto the next flight & luggage tagged to final destination thus allowing me to do the bag drop at TBIT after customs clearance thereby covering me in the event of a delay so the airline would rebook me without penalty.
Even if your inbound VA flight was ontime into TBIT at 0845 you need to factor in plenty of time for the following:
1. Physically disembark the aircraft which will depend on where you're seated? Have you pre-allocated your seat as far forward as possible? (10 mins)
2. Walking from the arrival gate to Passport Control (10 mins)
3. Lining up & waiting in the queue to be processed ie finger printed & questioned etc by a CBP Officer (up to one hour - maybe longer)
4. Collecting your baggage off the carousel - chances are it will be there before you are given the previous wait (5 mins)
5. Lining up a second time to hand in your blue US Customs form to an officer (up to half an hour- sometimes less)
6. Walking with your suitcase(s) in tow from TBIT to Terminal 3 (10 mins)
7. Note you must arrive at T3
prior to the baggage close off times of 0945 or 1000
You don't really have 2 hours to play with to achieve the above - it's more like half that. The 2 hours is from your scheduled arrival time into LAX of the first flight & your scheduled departure time of the second.
The question I'd be asking myself is can I afford to lose the fare I've paid from LAX to xx_ & what will it cost me to buy a new ticket.
If you are still keen to run the gauntlet I would webcheck for the VX flight then use the kerbside bag drop at T3 & tip them well. You will need to have some US cash before you leave Australia as there will be no time for currency exchange on arrival.
Los Angeles LAX Airport Information | Virgin America
Check-in Time:
Arrival at the airport is recommended 90 minutes prior to domestic flight departures and 120 minutes for international flights. Checked baggage will be accepted up until 45 minutes prior to flight departure for domestic flights and 60 minutes prior for international flights. Check in without bags closes 30 minutes prior to departure for domestic flights and 60 minutes prior for international flights.
Curbside Baggage Drop Hours:
6:00 AM - 12:00 PM Pacific Time
5:30 PM - 9:00PM Pacific Time