On our last trip in January a group traveling on our same IC flight ran into problems and got separated. Part of their group stayed behind (in the gate area) while two others collected their checked luggage at baggage claim. Unfortunately they were delayed for whatever reason and got to the ticket counter with less than an hour from departure. The ticket counter was closed and they missed their flight. I believe they were able to catch the next flight, though they got the last two seats.

If you check luggage you will need to re-check in at the IC ticket counter outside security. The IC ticket counter closes 1 hour before the flight departs. If the ticket counter is closed you will miss your flight. Same agents man both the ticket counter and the gate, hence why the one hour cut off.

Others can speak to whether 2-3 hours is sufficient time to collect your luggage from baggage claim and get to the IC ticket counter with an hour to spare. We always do carry on.