Jiggus, as a $10 NL player, I don't have a problem with the size of the preflop raise. It really depends on the site. At UB I can raise to 40c in EP and get just 2 callers - fine. At Pacific I can raise to 40c and get 4 callers - raise to $1.00, sometimes get 4 callers - but more likely 2-3. I don't generally raise to $1.00 though - just pot-commits you too much on an undercard flop. 70c to 80c in EP though I think is fine (if your site is as fishy as Pacific).

However, I don't have a huge amount of confidence in AK in early position. I will generally raise to 50c, and check/fold a missed flop (unless I have odds to chase overs or flush draws etc.).

What do I want to see flop when I hold AK from EP?
(1) Top pair A or K on an otherwise non-threatening, non draw flop - I want to just take it down on the flop as much as possible.
(2) Top two pair - I'm hoping for callers now.
(3) Trip aces or kings - hoping for callers but not likely to get them.
(4) 3 flush board when I hold the A - I don't mind betting this out.
(5) All undercards, but nothing higher than 9-T. I will continuation bluff this as if I had a high pocket - but only on the flop unless I am fairly confident that opponent is on a draw and that my A hi is good.

At $10 NL, a half pot continuation bet is almost always an obvious projection that you have missed overs. Hands that want you to stay in (trips/two pair) will often minraise you.
Hands that want to take it down on the flop (draws, some pair on the board or just a pocket pair in hand that knows you missed) will reraise you hard. Often enough you will also be simply smooth called by those same hands.

So, how do you adjust? I generally won't cont. bluff into 2 people, but if I'm going to do it, I will bet my normal overpair amount - 2/3s pot (sometimes pot). If I am called, I will slow down on the turn unimproved - this is weak no doubt - but I'm generally not ahead at this point and the other guy is obviously not folding so how does it help me to put more money in when I have little chance of winning the hand? Again, if I seriously put the opp on a flush draw or somesuch with no pair, then I'm still punching the turn - but it is pretty rare to be able to get this read consistently so I don't make this move very often at all.

How does this work for me? AK is not a big winner for me from early position when I completely miss (at the $10 NL tables 10-max ring at least). That's fine - I realize it, so though I must raise AK in EP, I honestly don't expect much to happen from it and I have no problem letting it go at all.

Now - in your case, what do I see that went wrong with this hand?
(1) 2 people called a big preflop bet in position against you
(2) You missed the flop - but your continuation bluff was weak and easily read as two missed overs (even if you always bet half pot with an overpair in the same situation, most people do not, especially out of position).
(3) You were minraised - now the guy could have a draw (KJ/J9, two pair, trips, etc.) - but you don't really have a hand to beat much on the board and you are out of position - an undesirable situation - this needs a fold or an allin if you think you can really take it down (occassionally opponent just has top pair, mid pair or some pockets and he wants to see if you are on missed overs or really have an overpair - probe minraise - but most of the time you won't get minraised by that, you will be smooth-called because they want to see whether you slow down on the turn or not).
(4) You minraise his minraise on the flop...that's not enough to chase off a draw or a strong hand (2 pair/trips) - and if you are just called, you're stuck. You pretty much have to go allin on the flop or let it go...with the allin hoping for a fold or hoping your outs are good. The reason being - you only had $3 ish left in a much bigger pot than that for betting the turn improved or unimproved anyway. Minraising his minraise pot-committed you (practically) and you were sticking the rest in on the turn regardless of whether you hit or missed - so just get it all in on the flop and pray for a fold or big improvement (personally I wouldn't play it that way - I'd just check/fold the flop because I didn't have high hopes for AK here anyway).

Long post - some repeat content...but since I have played these stakes (started at $10 NL 8 months ago and still primarily play it at 2 sites) hopefully there's some stake-specific experience to be had - and that's not a dog on anyone else's comments as they were all relevent as well - just throwing in my own perspective

Best of luck to you at $10 NL!!