Hi, qMantas!
You didn't tell us how many hands you have on the opponents. Hard to judge the stats not knowing the samples.
Against a very loose guy that folds often to 3bets I don't mind the squeeze. It's sort of weird "bluff" though, since you want them to worse aces and eventually KQ but also all his pocket pairs of course (which are ahead of us).
When you 3bet the UTG you are showing tremendous strength; you won't get called by worse or dominated hands often (like AJ) by decent players. If the opponent is very loose passive, then why not, it's a 3bet for value.
Against this specific opponent I'm not sure if it makes sense since he opens so little (only 11% in general, we can assume it's much less from UTG). He's so tight I'd probably just fold my AQo often against him. Problem is: if he misses the flop he'll often check to you, you bluff and he folds - you win a small pot; but if he hits or has QQ+ he has you dominated so you lose a big pot.
Since the CO joined the party I might call since we have absolute position. But then again, AQs would be much better and with AQo I'm not exactly fistpumping. Is just because the fish may very well have worse aces, so if the UTG has something like 99 and the flop comes AJ2 he will likely give up and we keep playing the fish in position (hurray). By 3betting you don't do it for value and you risk isolating youself against the utg (not only the stronger range but the stronger player).
Now, yeah, comes the flop. Cbetting is fine, but once he raises you have an easy fold since he will probably never do this as a bluff with a passive bad player still to act behind! The fish will likely call his raise so it's not a bluff. Just fold.
The problem with cbetting is if they have a hand like TT/JJ they'll probably fold; but if they have us beat they'll give us action. Our hand is not super vulnerable and I wouldn't be too worried about the flush draw since the A
is on the board (and a lot of flush draw hands would be Axs, which they can't have). I don't know, probably close. Against two players, one being a super bad player like the CO I'd even cbet and expect action from AT/AJ; but if the UTG calls I'm done with the hand.