HH says CO has balance of $2 MP2 has balance of $15.00.

Therefore you are really only playing against MP2 for a real pot and you have him well covered. If you re-raise you are trying to shake MP2 who has the $$$ to be won. I think re-raising to get MP2 out of hand is a mistake here.

MP2 just called preflop so AA, AK and KK are remote possibilities. You want to bring him along because your QQ is a 4-1 favorite against 22-JJ no sense in shaking him. I assume from your post he did sneak in there with 99, 77 or JJ and you called and lost but it was not a mistake.

Even if you had re-raised he might take a flyer with implied odds and call preflop with a medium pair.