I just hold it at the handle and then spray it, nice and even on both limbs. I like 6-10 light coats. I set it on the cap that comes with the spray can. 45 minutes or less between coats. I don't usually sand between coats.
I spray the handle after the limbs are dry. It takes 3 days to cure and then I sand with 320 grit, do my ink work, and give it a couple more coats. After 3 more days, I like to rub it down real good with an old towel and then give a lookover to see if there are any problems with the finish. If you wax it with car wax every once in a while it will stay looking top notch.