Well you don't really want to kill anything, do you? If you do, see BMC's note (including video) on using ctmkilljob.
In this case your next job is dependent on 2 things, the predecessor job being ok and the duration of the predecessor job. Add another input condition to your next job (in addition to the existing condition) to represent the >2 minutes duration.
On the job that needs to run for more than 2 minutes, add a Notify when the Exectime exceeds 2 mins (or 60 mins or whatever you decide is the threshold) and get it to shout to an entry in your shout destination table.
On the Control-M Server create a new program entry in your shout destination table and create a small script referenced by the shout. The script should use the ctmcontb utility to create a new ODAT condition that your next is waiting on. If you have a look at the BMC help note for ctmkilljob (and just substitute in ctmcontb) then you'll see how to do this.