$5 is fine, I don't see any reason to 3bet shove here even though he is short stacked, I don't think the extra fold equity means anything in this spot, $5 is going to fold all the things you want to fold everything else is probably shoving and you get the right odds
What it sounds like you are saying is that because you are committed with a $5 bet you may as well shove, right?
Well, I think that you MAY get a shove from something in the AQ vicinity, and maybe from some coin flips (maybe even TT or JJ) that may not call if you 3bet shove, which I guess is fine. On the other hand only the hands that split (AK), or beat you (AA, KK) are probably calling your shove.
Given that I'm getting my money in either way I would rather get it in against some stuff we have better equity against.
Do you think his shove calling range is stronger than his shoving range?
If those two ranges are equal, how does that effect your decision?
Also, how would folding EVER be an option with AK in position? Also, a shove is TEN TIMES his bet.
I just don't think 65bb is short enough to open shove- the other factor is the CO. How does his range figure in, what if you get a call from him and a fold from MP2 when you raise $5?
Just a few other thoughts to mix in.