Bona,
When I've sinewed I put all the layers on at one time and let it sit for a month, perferably under a fan after it started to harden some. But one layer at a time will work, too. I suspect you would not have to wait a month for that to dry as it is so thin.
On the nock issue. Sorry I didn't see this before. I don't sinew right up to the tip but leave a space. I've read that sinew and the string don't get along very well. But, when your layer dries just scrap or sand it back some to reveal the wood tip area. This material sands very well. The antler tip will hold much better to the wood than it will to the sinew backing. Remember, sinew can be peeled from a bow on occassions, you don't want your overlay tip to ever do that.
Between layers you shouldn't have to sand as the dried glue will reactivate when wet glue is applied.
Looking forward to your finished bow's pictures.