The serf gives up her two best cards, and the king gives the serf any two. With three players, all the cards are dealt. The person in the middle gives her best to the king and any other card to the serf. The king gives any two cards to the serf and any one card to the person in the middle. There are many other variations of Ceausescu, although anything different isn't really Ceausescu.
All suits have equal value.
One Joker is higher than the other. Since every deck has different artwork on the Jokers, determine before the game which one is higher. If one has red writing and the other has black, then the red one is higher. Otherwise, chose the Joker that has less small print on it. That is, a single card only beats a single card.