When I flew to Buenos Aires via Madrid a year ago, I also didn’t realize at first that T1, T2, and T3 are part of one connected building while T4 is a separate building a few kilometers away. I read more about the terminal layout on the Madrid International Airport site, where everything is clearly explained. The shuttle between the terminals is free and takes about 15–20 minutes, depending on traffic. You’ll find the stop right after exiting the arrivals area. Keep in mind that after landing, you have to get off the plane, walk to the stop, wait for the shuttle, and find your gate in T4, which is quite large. You’ll definitely make it in an hour and twenty minutes. By the way, where are you flying to next from Madrid?