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AQ is still a strong hand, there's only one kicker above yours, so granted no one has it, you'll have TPTK for the Queen or TPTK for the Ace. Therefore, I'd definately say to raise it, even from EP, but your pre-flop play and reads will be key unless you hit. Even in that case, you've got to watch out for that AK, so you're not totally in the clear. AQ is a strong hand, but you've got to play it a bit smarter than AK to consistently make money with it.
Folding to a reraise may not always be the best play, although you're probably behind in most of those scenarios if someone is going over the top of your 3-5xBB raise. Depending on the player who is reraising, the size of their stack, and the size of the reraise, I might call it, but more often than not, I'll probably fold it too. If he's bluffing, he's really putting himself out there and you can catch him for his whole stack when you've got a slightly better hand.
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