Max-
The situation you detailed seems like a perfect chance to me to triple up. If you make 100 place the amount of money you would make would be negligible compared to where you would finish if you won the hand. The chances are your opponents are either on A-K or A-Q (which would be great) or big underpairs. Either way they would be drawing to beat you.
The only chance I can see where you may want to fold AA is if you were on the final table with a very very small stack (easily the smallest on the table) and two other players with large, preferably equal stacks, went all in. This way you would be bumped up one place and that place would pay considerably more.
To answer the original question of the thread. No you shouldn't of reraised. The object of your raise was to get someone heads up, which it sounds you may have accomplished. When your opponent reraised that should of told you that he had a stronger hand than you, atleast QQ. Either way your reraise did nothing to get you closer to winning the pot. Unless your opponent was one of the blinds your raise wouldn't get you a free card on the turn either. I can't think of a reason another raise would have been appropriate.
Baker