Your implementation is a bit tricky since you are talking about 2 separate machines with 2 separate Jenkins instances. One option is to get rid of the Jenkins instance in the slave machine and move the Jenkins job that runs on it to the master machine. Then, you can schedule the job to use the resources of the slave machine while being managed by the master machine. If you do that, no further configuration will be needed since you have set the number of executors to 1.
If that is not possible, the other option is to find a way for them to communicate with each other that a build is running. Consider the third point of this answer. You can have a variable in a database somewhere and when one job starts, it updates the variable. Before the second job starts, it has to poll the variable to see if there is a job already running. If yes, the build doesn't start, if no, build starts and updates the variable.
Another less elegant solution is to simply have a text file in a location accessible to both machines and write the variable data into that instead of a database.