[jelly]

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Given your description, I hate check-call on the flop. You know Villain is going to bet if you check given your description, so you should check-raise (hoping to win the flop) or lead. Check-fold might be a bit weak, but OK if you are patient enough to find a better opportunity.

My preference would be to lead. Then when the Button calls with his non-nut flush draw, if a diamond falls on the flop or turn, you check-raise and stack him.

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I don't think I can bet this facing pf reraiser who can easily have AAxx but I admit I could c/r once he folds. But what hands (Button) are good enough to bet into two pf raisers and not good enough to call the c/r? I saw him to go all the way with good but vulnerable hand.
Anyway, if it were heads-up and you bet and Button raises, is it instafold, instacall or do you examine stack sizes expecting good implied odds?