Hi,
I'm going to side with x3mwisp on this one, as this is how I would tend to play it myself and I'm having trouble understanding mishuq's reasoning overall. And I apologize in advance if I sound a bit harsh overall but it looks quite messy to me, I think it's important for you to sort everything out correctly.
The reasons for raising are the same as the reasons for betting, both are just a matter of deciding whether it's in your best interest to put more money into the pot yourself. Unless you start making information raises, which most of the time are just a poor attempt at sacrificing ev to simplify decisions. You aren't "pot-controlling" in the common sense if you purposely shovel more money into the pot with a somewhat marginal holding. You're just announcing you aren't ready to make a somewhat blurry call down, so you'd rather throw a bunch of money in there and possibly isolate yourself against better hands (making a possibly bad raise instead of making possibly bad calls later on), so that you have an easier time finding a fold or seeing a showdown (which might not even happen, that guy might call the flop with a gutshot and jam his busted hand on the river if you check back the turn, he's a loose aggressive fish after all).
So in this hand I prefer to keep all his random hands in the pot rather than to tell him "I have an ace, please fold" by raising. Representing a strong hand when you actually have one just sounds fundamentally bad, you don't make money at poker by showing your cards to your opponent. We don't care about fold equity either, we're pretty sure we're ahead of his leading range. We're totally playing that hand for value either way, and we want him to bluff or valuebet worse after the flop.
It'd be better if it actually looked like a bluff rather than a strong hand, since he might attempt to rebluff us or ship over a worse Ax, hence i disagree about it being an easy fold after we raise and he 3-bets, which makes the "it costs less money" argument moot too. If we waste a raise and end up folding when he jams KQ or A2 it's a huge mistake. We'd for sure hope for that to happen with a hand like AQ in that spot, but with A8 we're that much more likely to actually get shipped on by a better Ax, so we're not that comfortable calling it off, which is why we're better off not putting ourselves into a situation where we need to make that decision to begin with until we're sure he's spazzy enough for us to stack off with marginal Ax hands.
When we call he might or might not continue to bet on the turn, either way given our read that he's loose aggressive he'd probably both check/call and bet small again on most turns with a ton of hands we beat somehow, so he'll make mistakes on his own , that's what fish do. Thus we're fine calling down and being beat at showdown this particular time if it so happens, as we're fairly certain we're ahead of his range most of the time and we'll yield a profit in the long run.
Hope it helps.