I will have to be the odd man out and say that there is a lot of benefit in using more than 2 coats. First of all, any wax must be applied on top of a clean surface. Piling wax on top of old wax residue that you've accumulated for a year or more is wasteful, because you will likely compound dirt and oxidation along with the wax. That will likely mean that your paint will not be at its best in its appearance.
Second, you should definitely not put on more than two coats at a single time. You should apply one or up to two coats right after you've prepped your surface. You should then IMO give yourself at least a week and/or up to a month's time with your first deposits of wax before adding another coat.
I have followed this routine for many years with success, and the benefit of enjoying a long lasting waxed shine right through winter. Some doubt it, but I can tell you that wax that has been slowly applied, maintained and replenished in moderate amounts will yield you very rewarding results.