Set on 3flush board against LAG

[MrBlah]

Villain is slightly loose but VERY aggressive. I've once seen him 3bet a flushdraw on the flop in a blind battle.

Party Poker 2/4 Hold'em (6 handed) Hand History Converter Tool from FlopTurnRiver.com (Format: 2+2 Forums)

Preflop: Hero is MP with 7[img]/images/graemlins/club.gif[/img], 7[img]/images/graemlins/heart.gif[/img].
<font color="#666666">1 fold</font>, <font color="#CC3333">Hero raises</font>, <font color="#666666">2 folds</font>, SB calls, BB calls.

Flop: (6 SB) 6[img]/images/graemlins/club.gif[/img], 4[img]/images/graemlins/diamond.gif[/img], 7[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(3 players)</font>
SB checks, <font color="#CC3333">BB bets</font>, <font color="#CC3333">Hero raises</font>, SB folds, BB calls.

Turn: (5 BB) K[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(2 players)</font>
<font color="#CC3333">BB bets</font>

Easy raise or call down?
What if I raise and he 3bets?