Good luck putting the new guy into his place! We had a guy like this in my homegame and I mostly avoided him unless I was nut-peddling. Looking back, I missed tons and tons of value as a result. If worse comes to worst, pull out a notepad, track how many times he 3bets and how many hands are played, then as suggested above, pokerstove it and jam all the hands you expect to be ahead of his range down his throat.
This'll lead to some variance, but should lead to more profit. Best of all, you'll feel like a man! I moved out of the state, so I fear I will never have the chance to show my old nemesis that I learned how to 4bet light