Last time I played around with multiple applications of 476S (the MPV's winter wheels), I seemed to do OK adding a "layer" with about an 18 hour wait. I dunno if it was truly layering (I'd say it was) or just building up oils/etc. on the surface, but it did get "better" (slicker, a bit better looking) each time and build up in stamped-in lettering (yeah, I was applying it thicker than I usually do) seemed to indicate that the wax was indeed adding up.
I'd go for 2-3 applications and then just add more after the next few washes.