We're not huge fans of the term "layering" as it implies building an ever increasing film thickness with multiple applications of product, and we've never seen anyone prove that this can be done with any traditional wax or sealant. That said, we do advocate applying two thin coats of wax or sealant to ensure uniform coverage and appearance. This is primarily due to how thin a wax or sealant goes on when applied properly, and the fact that an appropriately thin application can be difficult to see, especially on light colors.
Ultimate Wax uses what we call Thin Film Technology, which is pretty self explanatory for anyone who's used the product. On light colors it can be extra tricky to see where you've applied UW because of this. Being fully synthetic, there is a cure time associated with this product once the excess has been removed; usually about 12 hours for the polymers to fully crosslink and bond. Ideally then, you should wait 12 hours between applications, but that's not always practical. If you need to do it sooner you won't hurt anything, and any compromise in durability is going to be extremely minimal. Visually we highly doubt you'd be able to tell the difference if you applied that second coat after a couple of hours a full 12.