I'd read the back of the can and see what the manufacturer said about it.
Swellguy, if you can dent it with a fingernail the next day I'd have to guess that you put it on a little too thick.
Recoat windows, the minimum and maximum time the manufacturer recommends between coats, are based on a stated temperature or a minimum temperature and they are important. Most modern paints are shot with each coat laid on top of one that has NOT set up yet. The effect is that the layers fuse together rather than adhere to each other. With BC-CC (base coat, clear coat) systems this continues all the way to the final coat of clear. However occasionally painting has to be interrupted, which puts the painter out of the recoat windows, and when that is the case earlier coats generally (read the Tech Sheets) have to be allowed to dry or set up completely and then be sanded for a mechanical grip before the painting can be completed.
And that's how it works, but in every case your best bet is to read the tech sheets and follow them, unless you know a lot more about the paint and its properties than the company that made it. I don't, so I follow the instructions.
Or you can shake the can for 20 seconds and blast it on there, which is what most guys do.