Live 2/5 preflop quandary

[Jim C]

Hello, please comment on my reasoning:

I am in a fired up live 2/5 game. Several players are quite laggy and one is a drunk semi-maniac. I have played with the drunk before. A week prior, I re-raised him in position to $120 and he 4-bet shoved another $600 with KJo. He doesn't need the money, and is there to drink and play wide open. There is quite a lot of laughing and yelling going on. Pretty much poker nirvana if you don't mind a roller-coaster ride.

Folded to me (odd for this game) in the CO where I have AJs.

I have about $1400. Button is new to the game with approximately $420.

SB has me covered and is a laggy player who is a decent hand reader postflop, but plays waaay too many hands and gets off on being tricky. He is always either a big winner or big loser, but perhaps a slight long-term winner because the game is very weak. BB is the wild drunk, and also has me covered.

I raise to $40. Button calls, SB (LAG) calls, BB (drunk) raises to $140. ($260 in the pot)

I believe the drunk could have any 2 cards, and I almost certainly have a better hand than him. He will fire the flop whether he hits or not. I am in position, with a hand that is crushing his range. I *call* ($360 in the pot), because: <ul type="square">[*]I want to win more from him than his preflop raise. He will fold trash to a preflop 4 bet, but will fire the flop with nothing if I just call.[*]We are deep.[*]I am in position.[*]I don't mind the other players calling also, though I would prefer if the button folded.[/list]Button shoves ($740 pot). Both blinds fold. It is $240 to call.

Since I'm only in rough shape here against AA, and this could even be 99 or TT. I feel this is a rather easy call taking over 3:1. I called.

Obviously, I'm not folding AJs to the drunk's 3-bet. Should I have 4-bet rather than called? Does anyone disagree with the call after the BTN shoves (I can't imagine anyone thinking this is a mistake)? My big question is how to act after the drunk's raise...

Changing the action, what if everyone folds, and I take the flop HU with the drunk and miss (no FD, just 2 overs). He fires out $200, leaving the effective stack 1100 behind. How do you play the rest of the hand? Does this situation change how you play the preflop? Since this is a likely scenario, are you happy to just win preflop and not get greedy going for his flop c-bet? Yes, this guy will fire the turn again with air; I've seen him do it repeatedly.

Comments?

Jim