77 in BB, mid-tourney

[Rooger]

Party $5 R&A. Around 400 players left, a little over 1000 started.
MP2 is quite loose-passive. He was just moved to the table, but I've played with him before.
CO is 22/9/1.5 over the ~50 hands I've been sitting at this table. Haven't had any confrontations with him before.
The table is generally quite tight & aggressive. Not many limped pots, and some repushes against PF raisers.

So do you play this for set value? Try a resteal? Fold?
At first I thougt playing it for set value would be standard, but I'm not sure my stack is big enough to do it. It helps that I'm against two opponents, bigger chance that one of them hits, but I'll have to fold it OOP if I don't hit the set.

Party Poker No-Limit Hold'em Tourney, Big Blind is t300 (10 handed) FTR converter on zerodivide.cx

CO (t13381)
Button (t10105)
SB (t41797)
Hero (t9205)
UTG (t1597)
UTG+1 (t4575)
UTG+2 (t16665)
MP1 (t9205)
MP2 (t11362)
MP3 (t8630)

Preflop: Hero is BB with 7[img]/images/graemlins/club.gif[/img], 7[img]/images/graemlins/heart.gif[/img].
<font color="#666666">4 folds</font>, MP2 calls t300, <font color="#666666">1 fold</font>, <font color="#CC3333">CO raises to t1200</font>, <font color="#666666">3 folds</font>, Hero?