V2 is quite loose. loose aggressive or loose passive - really important given how this hand has gone so far. I will assume him to be a classic live player.
I would not 3-bet AQ at this stage in live poker this deep btw (I might online but I doubt it). We end up going 4 way to the flop anyway which is going to happen a lot as everybody sees lots of chips and just calls. We don"t gain much in value or info.
We hit an excellent flop for our hand even though we honestly have no idea what the other players could have we are ahead a lot here. I like your bet on the flop, people will call with worse here. Worse aces and 99-JJ type hands can call here.
We get two calls, they probably don"t both have worse aces. Given the fact that villian two has called a raise and a 3-bet pre and then called on the flop I tend to see less worse aces in his range and there are not any draws on the board.
The turn looks like a good card but in reality makes very little difference, we are still ahead of what we were beating before and losing to what we were losing too before, I doubt either of them has AK and given the action 2 pair feels unlikely, although not impossible. I like the bet when checked too as we still want value off worse aces. V1 is the most likely person to have a worse ace but he folds and V2 calls which make alarm bells ring, smaller pairs should have got the message now and I am still thinking little aces are less likely to be part of his range.
When he checks the river I might just check, or maybe bet/fold is better. When he raises we really only beat a bluff, the raise is also massive. Given all of the above I don"t think our two pair is good now, I am going to put him squarely on a set:-
Fold.
