In my experience with lacquer based finishes , the longer the better . Drying time really depends on 2 issues....first is the viscosity of the lacquer you're using . Is it a store bought aerosol ( usually thick ) or are you mixing your own consistency ? Thicker coats are good for building up finishes , but take longer to gas off and set . Second remember a new coat of lacquer will melt into the old one making drying and handling times progressively longer with each new coat . If you mix your own lacquer then you probably have the experience to thin out your final top coats . Bottom line is be very patient and let the guitar hang , when you think it's ready wait some more....your patience will be rewarded with a great finish the first time around . We are all chomping at the bit to play our new creations , but rushing the setting time can bring you more headaches by having to resand and refinish a flawed lacquer job . Fingerprints in a finish suck !!!
On a personal experience note....be careful with casing your newly finished project.. I once and only once put a guitar that I just finished buffing into a gig bag with a nylon lining....what a disaster...the lining melted the finish and was ruined because lacquer and nylon apparently are volatile...who knew !!!
For speedier finishing , after the wood is dyed , a couple of sealer coats with light sanding in between , then spray automotive clearcoat to finish . Drying time is about two weeks and if your sanding is good the final coats are flawless and durable . I apologize to all the purists who believe that laquer is the only finish for musical intruments .