I am no painting or lure making expert, by any stretch of the imagination, but here are a couple of really basic things I've learned over the years by trial and lots of error.
First and foremost, when painting a wood lure, make sure it's sealed completely. Water intrusion will swell the wood, and ruin all your hard work. Do a site search here for sealing wood, and there are tons of threads, which you should take the time to read.
Short story long, if you don't seal the wood well, the rest of your work is wasted.
Second, heat set each coat of paint well before you spray the next coat. Trapped moisture in poorly set water based paints will return as bubbles under the next coat, and ruin your work.
Third, make sure your top coat can expand and contract with the wood. D2T is a glue. It is great for plastic cranks, and really small wood cranks, but it is very rigid, and will fail eventually on larger wood baits. If you've already got a turner, and you want to make big wood baits, think about trying Etex Lite epoxy, or another one of the decoupage type or rod building epoxies, which are designed to flex and move with thermal changes and wood movement.
Last, remember this. Your time is the most expensive part of lure making, so don't cheat yourself by cutting corners, and having a lure you've worked hard on fail because you skipped a step, or cheaped out a component.
And don't be afraid to fail. That's how we all learn.
Good luck, and have fun. That's an order!