A man after my own heart.
At tables like these, anything other than limp/reraising is really poor, imo. But you'll get very polarizing opinions on this.
Flatting is kinda tempting because it would be awesome for MP to reopen the betting for us. The problem is that he's facing a minraise out of the blinds, so my guess is he only reopens the betting if he has a monster. So not worth the risk, imo.
I basically like offering poor setmining odds around 8:1 in this spot (especially since we'll never be able to fold postflop). Given the dead money, against the bigger stack we're kinda sitting close to $400, so popping it about $50 more over MP's original $20 would be fine against him. But facing the $40 raise and the $220 stack, we'd probably like to pop it to $40 more over that to prevent setmining odds. Overall, I think I'd go about $80, which might still get MP involved.
Another option is to shove. If we take down $86 uncontested / untaxed preflop, oh well, not exactly a horrific result. And if BB is here to gambool, he might call it off preflop anyways, whereas if we don't get it in now he might find a fold postflop (such with whiffed AK or JJ on Q+ flops).
I might lean to a shove, but I could be convinced otherwise.
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