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Default Complex IF formula w/ time

I need to create a spreadsheet for my boss scoring the length of calls. 4:32
means 4 min and 32 secs. The formula needs to have the following for scores:
5:00= 1 point

4:31-5:00= 2 points
4:00-4:30= 3 points
3:30-359= 4 points
<3:30= 5 points

I keep getting an errors when I attempt this I think its because of the time
issue. I need to figure out how to format my time so it is min and sec.
When I attempt to do that w/ the format option it changes my 4:32 to
32:00:00. If someone could walk me thru this I would be extremely
appreciative.
 
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