I think what you're looking for can be found under Admin > Stores > Configuration > Services > OAuth tab:

The interesting thing is that default value is not 3 minutes but actually 5 minutes (300 seconds).
The default values are set under \app\code\Magento\Integration\etc\config.xml
:
<default>
<oauth>
<cleanup>
<cleanup_probability>100</cleanup_probability>
<expiration_period>120</expiration_period>
</cleanup>
<consumer>
<expiration_period>300</expiration_period>
<post_maxredirects>0</post_maxredirects>
<post_timeout>5</post_timeout>
</consumer>
<authentication_lock>
<max_failures_count>6</max_failures_count>
<timeout>1800</timeout>
</authentication_lock>
</oauth>
</default>
Another interesting thing is that, on top of this default value, an extra default value is defined under \app\code\Magento\Integration\Helper\Oauth\Data.php
:
const CONSUMER_EXPIRATION_PERIOD_DEFAULT = 300;
This value is used in case the expiry is set to a negative number:
public function getConsumerExpirationPeriod()
{
$seconds = (int)$this->_scopeConfig->getValue(
self::XML_PATH_CONSUMER_EXPIRATION_PERIOD,
\Magento\Store\Model\ScopeInterface::SCOPE_STORE
);
return $seconds > 0 ? $seconds : self::CONSUMER_EXPIRATION_PERIOD_DEFAULT;
}
NB: the screenshot is from a 2.0.0 install, I reckon an Authentication lock section has been added since.