Postflop aggression

Texas Holdem is always a battle between "keeping air in their range" and "letting them catch up".

Feral Cow Poker
Full Tilt No-Limit Hold'em $0.05/$0.10 - 9 players

Button: $10.18 (Hero)
SB: $8.39
BB: $10.00
UTG: $8.05
UTG+1: $2.66
MP: $14.63
MP2: $5.79 15/12, 15% PFR from middle position, fold to 3bet 83%
HJ: $9.90
CO: $10.47

Preflop: ($0.15) Hero is Button with (9 players)
3 folds, MP2 raises to $0.35, 2 folds, Hero calls $0.35, 2 folds

3bet is the easy play- I raise, villain folds 83% of the time, I win 4BB. I decide to take a flop in position, though, and stay ahead of his range.

Flop: ($0.85) (2 players)
MP2 bets $0.60, Hero calls $0.60

Flop is dry, but ace high. All villain's aces have caught up with me, even if they were his only 3 outs, my failure to 3bet prevented him from giving up that dead money. Still, there's no guarantee he has an ace in his hand, this villain cbets 80% of the time, so I'm calling and seeing a turn. I could even raise here, which makes him fold his air, and maybe his weaker aces, but it seems more like turning a hand with equity into a bluff.

Turn: ($2.05) (2 players)
MP2 bets $1.20, Hero calls $1.20

So I've let him continue and another card that might have been losing to me before has just caught me. He fires again, but I have a flush draw now as backup, plus the 2 jacks give me a boat. I could also be dead to AA/KK here, so maybe this is a bad call. (I sure would have know that had a 3bet or raised earlier in this hand)

River: ($4.45) (2 players)
MP2 bets $3.64, and is all in, Hero calls $3.64

Flush comes, villain has less than a pot sized-bet left. He puts it in. Do I fold now?

Hero mucked
MP2 showed , and won ($10.95) with a flush, Ace high
MP2 won $10.95
(Rake: $0.78)

I feel like I played this hand like a donkey calling station, all in the name of "keeping air in his range" and not "turning my hand into a bluff". Instead, I lose a half stack pot.