Write a Python function merge$\_$and$\_$sort$($dict$1,$ dict$2,$ dict$3)$ that takes three dictionaries dict$1,$ dict$2,$ and dict$3$ as input. The function should merge these dictionaries into a single dictionary and then sort all elements based on their values in ascending order. The values in all the dictionaries are integer values while keys are characters$/$strings$.$

$($Non$-$anonymous question$(1)$