The can says 24 hours at room temperature, but it says you can recoat anytime in the first 30+- minutes.
I spray a bait lightly outside in front of my garage, wait 10 minutes, and then recoat. If another coat is needed, I wait another 10 and then hit it again. Generally two coats is plenty, because it is really high in solids, so it covers really well.
I usually paint mid day or early afternoon, when it's the warmest part of the day.
Once I've got my coats on it, I let it hang in my garage to off gas most of the solvent, and then take the bait upstairs and hang it next to my computer overnight .
It is ready to paint the next day, but I hit the primed bait with my hair dryer before I start my painting, just in cast there's any solvent left.
I've begun using the X2 Gloss as a top coat, and it works really well. I follow the same procedures as with the solvent, including hanging the finished lure inside overnight. I let the bait sit another day before I fish it, just to be sure that it has really cured.
I've made quite a few baits with that as a top coat now, and it has held up to a close to 20" striper that bit right at the boat, and bit so hard it bent one of the tines on my #4 KVD short shank treble to the side, like I had T'd the treble.
I still use Solarez for my balsa baits, because I think it is a harder finish that protects the soft wood better.