forget the fact im on a penny table, in general how would you approach this hand?
(i ended up going all in on the flop and lost to a river flush to majo)

I'd try to get it in. Anyone bets, I shove. Anyone checks, I bet and try to get stacks in.

I'm curious if we have enough equity to try to get stacks in on the flop if we were deeper. I say go for it now because of stack/pot sizes. But if we were deeper, would that be the right play given how wet the board is?

The only play is to shove. There is too much money in the pot and you most likely have the best hand. Unfortunately, you will often lose due to the wetness of the board but shoving is still the best play.