BB seems pretty likely to have nut flush when he checks and then flats CO's initial raise (unless he's just a fish). You only have about 35% equity showdown against a made flush and you have no fold equity. Even if both of them have a range consisting sets, made flushes, AsQh and As5x combos and a few naked A
draws - i.e., {JcJs,JdJs,JhJs,TcTs,TdTs,ThTs,55,33,AsJs,AsTs,As9 s,As8s, As7s,As6s,As4s,As2s,KsJs,KsTs,JsTs,Js9s,Ts9s,9s8s, 8s7s,7s6s,AsQh,AsJc,AsJd,AsJh,As5c,As5d,As5h}, you only have 44% showdown equity (and still no fold equity), so you don't want to 3bet.
You close the action with a call, but you're likely only going to get to see the turn. Still, you have a 15% chance of hitting your boat on the turn, and while you're not getting the express odds to call, you're probably going to collect at least one decent sized bet if you hit, so you should have the implied odds.
Edit: If they both have the wide range, I think you could in fact 3bet, because you have better than 50% equity if one of them folds and you have better than 33% equity if they both call. However, I think it's very unlikely that they both have this range - I think BB's range has to be weighted towards the nut flush.