I probably just call preflop on the SB with KQo to try to play a small pot OOP against 2 other people on 1c/2c, though raise is also acceptable. Flop bet is fine, massive overbet is messing with my head. could be a Q, a set and not much else besides a bluff... maybe semibluff with 45s (unlikely).
I don't think he smooth calls preflop with AA/KK, I wouldn't worry with that, although it is a possibility. If I had to pin point read, I'd say he's a fish who doesn't know how to bet with AQ, but I always get these wrong.
I'd fold this without reads on villain, but if you see him pull that stuff several times on future hands you should be pretty sure you had him beat here...