Dispensationalist is a bit harder to define, but the gist of it is they believe the bible is the literal word of their deity and that according to prophecy Jesus is going to come back and reign over the world from Israel for 1000 years. Their goal is to get pro Israel politicians into office not because of any love for the Jews (they will be destroyed when Christ returns) but because it helps fulfill their prophecies.

Your explanation is more of a summary/endgame take, IMO, but it's not far off. While my exposure to it during my upbringing would have contested your point about not loving Jews, the events of the past 20 years have me thinking otherwise.

I would say the actual belief is that God has worked or related to humanity in several distinct ways in several distinct periods of human history. It's basically their framework for how they understand God's behavior as described in scripture, and how to reckon that with where humanity is going. Here's a description I found that would line up closer to how they would describe themselves:

Dispensationalists understand the Bible to be organized into seven dispensations: Innocence (Genesis 1:1—3:7), Conscience (Genesis 3:8—8:22), Human Government (Genesis 9:1—11:32), Promise (Genesis 12:1—Exodus 19:25), Law (Exodus 20:1—Acts 2:4), Grace (Acts 2:4—Revelation 20:3), and the Millennial Kingdom (Revelation 20:4–6). Again, these dispensations are not paths to salvation, but manners in which God relates to man. Each dispensation includes a recognizable pattern of how God worked with people living in the dispensation. That pattern is 1) a responsibility, 2) a failure, 3) a judgment, and 4) grace to move on.

What I'm not sure of off hand is whether groups like Dominionists would adhere to Dispensationalism or not. Either way, politically speaking, most of these views are in the categories of Fundamentalism and older school Evangelicalism that have been largely co-opted by the Republican party.