NWRSG,
I don't think Flybe & Virgin interline - so your bags won't get tagged to MCO which could turn out to be a problem. You could ask the Flybe check in staff to put a rush or priority tag on your bags (short connection) to help speed the process. (If their rules allow it). Otherwise 2:20 hrs should be fine - you can check in online from home with Virgin and then just go to the bag drop - at least you'll be listed should your first flight be late.
Good luck