I really like your hand choice for a bluff raise. Any 3, 5, 7, 8, or spade seems decent for additional equity (22 outs - 44% of turns), plus an ace is pretty decent (6%), so half the time we're in decent shape when called.

I agree with carroters on sizing. I think your sizing is FAR too big. You're very polarized here, to overpairs/sets and air. No need to raise so big, I'd make it $4.35-4.60ish.