Did I play this too fast?

Villian who raised was loose, cannot put him on a hand here.

***** Hand History for Game 6019105037 *****
$400 USD PL Omaha - Thursday, May 31, 05:50:18 ET 2007
from

Table Table 127057 (No DP) (Real Money)
Seat 6 is the button
Total number of players : 10
Seat 1: qayedc321 ( $641.10 USD )
Seat 2: asdfgh73 ( $1,113 USD )
Seat 5: luckyrokie ( $854.73 USD )
Seat 9: redbull344 ( $360.20 USD )
Seat 8: Hero ( $319 USD )
Seat 3: ManBearP1g ( $303.50 USD )
Seat 6: WACHENHEIM ( $201 USD )
Seat 7: Muzuri ( $387.20 USD )
Seat 4: kennyfong ( $0 USD )
Seat 10: moonmarrow ( $919 USD )
Hero posts small blind [$2 USD].
redbull344 posts big blind [$4 USD].
** Dealing down cards **
Dealt to Hero

qayedc321 folds
asdfgh73 calls [$4 USD]
ManBearP1g folds
WACHENHEIM folds
Hero calls [$2 USD]
redbull344 checks

** Dealing Flop **
, ,
Hero bets [$11.40 USD]
redbull344 folds
asdfgh73 raises [$40 USD]
Hero raises [$120 USD]
asdfgh73 folds
Hero does not show cards.
Hero wins $180.40 USD

standard, if you can not put him on a hand.

I'd call the raise and check-push any turn. I'll take my lumps if I get outdrawn; there's only 7 flush cards to hurt you (1 in 6 turns) if he has a bigger draw (and you still get your money in as a 25% shot to boat up), and if he's on a straight draw you'll get your money in as practically even money on the turn anyhow if he hits (which will be something like 1 in 5 if he's got a wrap - I'm losing no sleep over). Two thirds of the time the turn will be effectively blank and you can (probably) get your stack in as an overwhelming favourite).

If you're reasonably sure he'll pop it again if you call then check the turn (which I think most decent or slightly maniacal semi-aggro players will here), then you're essentially guaranteed to get your stack in on a hand where (against his possible raising range) you're probably something like a 75% favourite on average. I'd rather do that, I think, than risk losing the hands you're really crushing (like two pair, middle and bottom set, wrap with lower flush draw etc.) by raising again on the flop when the pot is still small.

I should add the caveat that it obviously depends a bit on metagame stuff, how he's been playing, what your "feel" of his hand is (i.e. is he guaranteed to put it in on the flop a good % of the time?) etc. but I think with this little pot, for the most part, I prefer this line given the info you gave.