If you are trying to reduce variance why are you boosting the pot so high. I guess you do have some fold equity by raising, but checking to the initial raiser as 2nd to last is very sketchy and seems to be a very weak play (instead of leading out). Against KKxx ds ur 26/73, against KKxx ss ur 28/72. Against K7xx ur 39/62 dog. The only other hands that call you are 55xx and 77xx, but the chance of your opponent having that is quite low. I think that if he pots you just call and take a card off. This gives u turn-bluff equity and keeps the pot small. I dont hate the play, but if your trying to decrease variance (1) dont play PLO and (2) dont build pots when u may only be a small favorite and will only be called by someone that is beating or crushing you.