Since Israel controls Jerusalem, is the “time of the Gentiles" over?

No. We know from prophecy as well as from past and present events that the possession of Jerusalem by Israel is temporary. The armies out of the North will attempt to capture Jerusalem as they come against Israel (see Ezekiel 38:15-16). Also, the Antichrist will make his throne in Jerusalem. So, you will probably see control of the Holy Land changing hands a couple of times before the final battle. After Armageddon, however, there will never be a question of who controls Jerusalem again.

We are near the end of the time of the Gentiles, however. Speaking of the end times, Luke 21:24 says, “They will fall by the sword and will be taken as prisoners to all the nations. Jerusalem will be trampled on by the Gentiles until the time of the Gentiles is fulfilled.” In 1967, the Jews reclaimed Jerusalem, but the Gentiles will attempt to get it back. The Messiah will return and will destroy the armies (see Zechariah 14:4). In that instant, the times of the Gentiles will be over.