A systematic microscopic approach combining ab-initio density functional theory with the Dirac-Bloch equations is applied to investigate the intra-excitonic transitions of magneto-excitons in transition metal dichalcogenide monolayers. For the example of hBN-encapsulated $\mathrm{Mo}{\mathrm{S}}_{2}$, the linear optical response and mid-infrared spectra of the pre-excited system are numerically evaluated. It is shown that the transition probability between a subset of the magneto-excitons can be inverted under suitable conditions to display negative absorption, i.e., gain. With the help of an applied magnetic field, the absorption and gain spectra can be tuned over a wide spectral range. Evaluating the Zeeman shift of the excitonic states, effective $g$ factors are deduced that depend on the dielectric environment of the sample under consideration.