There are several different paths to take in order to balance the TML more fairly
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reduce TMD costs
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reduce TML damage to 2000 so that its enough to kill a t2 mex but still leave the wrecks
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increase build times, mass and energy costs to match the potential mass damage that can be done
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reduce fire rate
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reduce missile storage, only the cybran TML has multiple launch tubes so making all other TML storage to 1
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largely increase energy costs to match a T2 energy economy requiring the need for at least a T2 Power Gen, this would also slow down the TML rush and reduce the ability of players locking their opponent out of T2 by Killing their HQ early on and allow the "victim" a better chance of spreading t2 engineers around to build TMD. This would also create a risk reward structure as making a TML would largely increase the chances of energy stalling wich has a large number of repercussions.