I'm planning on fixing up a few rock chips soon
I will make sure the chips are clean will use Isopropyl
Then build up the chip with the paint in small layers.

Is it a good idea to wait half an hour before applying another coat or longer?

When the chips have been filled i will wait 24hrs or for better drying results leave it longer?

Then I'm planning on leveling the paint with meguiars 3000 unigrit sanding paper and if need be maybe the 2000 grit awell

When sanding is it a good idea to sand on a slight 90 degree angel front to back motion with light to moderate pressure and making sure the area is kept lubricated with soat water and not up and down in a line?