actually if you read the can it probably states to "rub the first coat or two in,like waxing a car"
at least thats what my can says to do
this is how i do it,its also the method my father in law told me how to do it too
he was a custom cabnit maker,carpenter for over 55 yrs,and thats all he used for a finish
Ive also found that "homer formbys' tung oil" seems to be the best,minwax is junk in my opinion
as far as dry time goes,when its dry its dry,the lighter the coat of tung oil the quicker it dries too
heavy coats are bitch to get completely dry,especially when humid out
i use xxxx steel wool between coats,just rub real light and apply next coat
leaves a real sweet finish