Somewhat common situation
 

Both opponents are unknown.

Party Poker 5/10 Hold'em (6 max, 6 handed) converter

Preflop: Hero is UTG with 8[img]/images/graemlins/heart.gif[/img], 8[img]/images/graemlins/spade.gif[/img].
<font color="#CC3333">Hero raises</font>, MP calls, CO calls, <font color="#666666">3 folds</font>.

Flop: (7.40 SB) T[img]/images/graemlins/heart.gif[/img], 3[img]/images/graemlins/spade.gif[/img], 2[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(3 players)</font>
<font color="#CC3333">Hero bets</font>, MP calls, <font color="#CC3333">CO raises</font>, <font color="#CC3333">Hero 3-bets</font>, MP folds, CO calls.

Turn: (7.20 BB) 4[img]/images/graemlins/club.gif[/img] <font color="#0000FF">(2 players)</font>
<font color="#CC3333">Hero bets</font>, <font color="#CC3333">CO raises</font>, Hero folds.

Final Pot: 10.20 BB

Re: Somewhat common situation
 

That's how I play it, too. The only thing that could keep me in after the turn raise would be if I had a straight draw.

Maybe.

Re: Somewhat common situation
 

I like it. Your flop 3-bet accomplishes a few things that I like. It prevents CO from taking a free card on the turn. It faces MP, who you want to fold, with two. You might rarely fold something like A3 or KQ on the turn which is good. It defines the action. If he caps or raise the turn, you're toast. Probably call the flop cap for meta game + set value. You're almost always bet when he calls you on the flop and raises you on the turn. I think turns over a set or AT the vast majority of the time.