Interesting post and something I will think about when betting. I typically play $25 and $50 PLO. If there are 4+ players staying in after the flop, which is not uncommon, several are drawing thin. I want them to stay in. The good players with strong multi-way draws won't fold regardless and (at these levels) are unlikely to reraise.

I have the habit of jamming the pot on the flop to protect good but vulnerable hands, like top set. Maybe I should slow down on the flop (still bet, but not pot and re-pot, etc., to create an all in fest) and start pushing harder on the turn. This might get more money on the flop from those drawing thin and slowly build the pot for a large pot size bet or re-pot if the turn card is a brick.

Maximizing value versus a large number of post-flop opponents is hard to do at PLO. At the lower levels, someone (several, perhaps) will stay in and run you down unless you have nut redraws, no matter how hard you try to get them out. Maybe this isn't such a problem at higher levels. I'm still working my way up. ...

Betting for value earlier in the hand may have some benefits. It will allow me to get away from a hand easier and cheaper if a bad turn card hits and (hopefully) will reduce variance. While I wouldn't be extracting every last cent from my opponents when the draws don't get there, in the long run I tend to think I might come out ahead. The dead money going in the pot could be more than the losses when I get run down by a collection of 5 morons.

I don't have time to think through this entirely right now (at work). My gut says an approach like this might work against a lot of opponents, but the fewer the opponents the more you should charge the maximum for draws post-flop.