When I’m using tung oil as a base coat, it’s always diluted at least 50-50 (I’ve been using
Real Milk Paint’s Half & Half lately). I let it dry for a day, then shellac it with a light coat of platina or blonde shellac as a sealer, let dry overnight, sand lightly with 400 grit, use enough coats of garnet shellac to get the color I want, then sand very lightly with 800 grit or a brown paper bag just to get any dust out, then four-five coats of platina or blonde. Dry overnight, and burnish with brown paper bag. Wax if it needs it.
But with tung oil, you should always be putting on light coats, and I thin most of them and wipe off any excess after a half hour. Let dry overnight, then rub it with a clean rag (old t-shirt is my favorite) or maybe a brown paper bag, then put on the next thin coat and wipe after about 1/2 hour, dry overnight, then burnish.
I use shellac for things like this little box where I want more sheen than I can get with tung oil (at least without spending a month finishing). It’s nice because I can recoat in about 15 minutes, and after 5 coats, it’s dry enough to handle in an hour or two. But it’ll be three or four days before it’s completely cured, so no rough handling before then.