If it's booked on a single ticket and your inbound flight is on time, you should be ok.
Today the MSP flight came into terminal three and the PVR flight left from terminal 2. The terminals are connected airside, but you have to take the Delta shuttle bus.
The airport's website says that "In the secure area past the security checkpoints, all terminals and gates are accessible," meaning you will not have to re-clear security. A map is available on their website and shows that the gates are connected by a short hallway. An hour and 15 minutes is plenty of time.