5NL QQ in position facing raise and a reraise

Last hand that I've been meaning to post for a while.

Full Tilt No-Limit Hold'em, $0.05 BB (6 handed) - Full Tilt Converter Tool

CO ($5)
Hero (Button) ($5.92)
SB ($2.53)
BB ($5)
UTG ($6.41)
MP ($6.43)

Preflop: Hero is Button with Qd, Qs
UTG bets $0.15, 1 fold, CO raises to $0.45, Hero calls $0.45, 2 folds, UTG calls $0.30

Flop: ($1.42) Jd, 7c, 5d (3 players)
UTG checks, CO bets $1.30, Hero ???

The CO was actually pretty quiet for a while, he hadn't done much up to this point other than folding.

Preflop: for CO {TT+, AK, AQs} Seeing as to he was a tight player, I gave him a tight range. I didn't want to fold my queens in position. I didn't want to raise because I was pretty sure UTG would fold and CO would only continue with AK and better and fold hands that were underdogs to my QQ. I decided to call because if I could get the UTG to come along, and I flop a set, then I might stack CO and get a little bit (at the very least the preflop call) from UTG. Doing the math here 9BB to call to win 28BB immediate if UTG calls. CO has about 90BB left after the 3-bet. I think I get it in against his range most of the time so I estimated about 70BB (90BB - (the times he doesn't stack off with this range + the times he hits a bigger monster)). This math was on the spot so it's very rough. So I called thinking implied odds were good enough (If I assume I can take some from UTG as well, my odds get better right?). So I called and if the flop was smaller than a Qhigh I planned to call one bet only. If he checks the turn he might have AK that missed or a pair that didn't quite hit the flop.
Flop: {AA, KK, QQ, JJ} I expected maybe 2/3-3/4 psb. And i was going to call that once. But he bet over 90% of the pot. This bet really made it look like he was protecting a big pair from a flush draw.

SO:
1) Was my preflop thinking and play okay? Was my very crude and rough estimates at the time acceptable?
2) Was my planning for the rest of the hand an okay idea, or just spewy? Should I strictly set-mine in this situation?

Thanks ahead of time