I disagree about 5 betting preflop with all of these people saying that's the best play. You do not want to get it all in pre if he is in top 3 range because then it becomes a bingo gamble on whether you are up against QQ or AA. In which case: AA you lose $24 - 81% of the time and win $24 - 19% of the time. QQ you give him the chance to fold to a five bet (with a nit player like this, it will happen) 50% of the time and 6 bet you 50% of the time putting you to a harder decision.
You cannot wire his range down solely to aces here because the same play gets made when he has QQ and KK (which is rare, but occurs), so the pre play of flatting the 4 bet is definitely warranted.
I think it is played perfect pre because it brings in a 3rd man for added equity with the SB and also allows you to set mine against a hand that Villain will guaranteed marry with 80+% of the flops that contain K's (since single suited flops and 3 broadway cards will slow down aces in this betting situation). The key to the set mining play is to play it strong though because when he has aces you want him to think you just hit with a hand like AK or KQ (depending on how loose he thinks your range is). Not to mention the rare occasion that you hit set over set against SB.
Now, onto the post flop play (since I agree completely on the preflop play), I would say that he has proven his range to be solely top 3 (because if he had JJ, I think he'd like better value against 2 bettors, and if he had AK I doubt a nit player would fire such a bet against 2 bettors). So, now that you know you are winning 49% of the time, chopping 2% of the time, and losing 49% of the time you just need to figure out what the optimal money play is.
Me personally, I would play it defensively for two reasons. First being SB still in the hand who could have been set mining, and second being that a defensive play is going to warrant you better showdown value (and since you have a showdown value hand, you don't really want to over risk and be shoving post flop against two players).
So in this position I call and see what SB does. If SB calls and a K comes on turn I scream bingo at my computer because I just hit the jackpot. If SB raises, I see this as a great opportunity to cut my losses. If SB folds I see this hand down to the river solely for the value of QQ and AA breaking me even in long run vs each other (since either of those hands gets played against you in a similar manner) if no K comes.
So this means by playing defensively, 5% of the time a K comes and you win a big pot against aces. 5% of the time a K comes and Q's slow down and you win a middle sized pot. 10% of the time an ace comes and warrants both hands to slow down (QQ or AA, one out of fear and other out of value). 40% of the time, no A or K come and you win a mid sized pot against Q's. 40% of the time, no A or K come and you lose a mid sized pot against A's.
So, if you run the math (which I'm not going to since I already gave you the math above without "finalized calculations") you'll see that defensive play and calling to the river in most situations will net you a positive EV here.
Now, take into consideration that I do not have enough information on his post flop play and how he plays big hands, but if you do then that makes the defensive play even better because it will give you more information against both SB and Villain and allow you to make the optimal long term decision.