If we are not 3 betting this hand, what is our 3 bet range for value?????
This all depends on who you're 3betting. If you're playing against me, for example, 3betting JJ there is okay since I'm likely to call fairly wide or bluff (though in a squeeze spot, these won't be as wide). Against most guys (people that don't play 30/25 or 40/30 when running like god) there's nothing wrong with 3betting JJ per se, it's just that in a squeeze spot, you're hoping to get through two players and not really wanting to play it OOP, IMO. And, most importantly, against a continuation range in THAT spot (where he's getting squeezed) JJ does not fare very well. If the PFR is tight (and he'll be tighter in this particular spot), once he calls, you know you're shit screwed. If you're shit screwed against his pre-flop calling range + his flop calling range.. then you have to wonder if 3betting was even good in the first place. Like I said, there's nothing wrong with it, but if this guy was like 18/15 and a fold to 3bet of 70, then squeezing JJ is a big mistake and grossly misplayed.
The way villain played the hand is going to cost him a bomb in the long run
no it's not. He played it near perfectly actually. If I saw a guy squeeze JJ and then stack off, and especially saw his cbet size, I'm going to love playing him. He defines his range pre-flop perfectly, and spews postflop. OMG, that's like the perfect player to play against. My only peeve with villain here is that he did not shove raise the flop, and as I mentioned earlier, I'm quite confident the reason he did not was the same reason he didn't 4bet. And that reason is... he wanted the guy left to act to stay in the hand.
I'm pretty sure if this wasn't a squeeze, the "cooler" component would be much higher because villain's range would be perceived as wider. He might 4bet pre, or call and raise the flop... and on that board, he can have flush draws, etc... here the guy's range was very strong... like TT+ preflop & strong suited, but on the turn it's only stuff that beats JJ & draws (and even the draws should have shoved if not folded). Against a range of QQ+ & AK, AQ, KQ of clubs, he's not doing too well with JJ, and is close to dead on the turn.