Typically tung oil needs a good solid 2 days.. you can apply with lambswool.
I like Waterlox prodcuts.
Approach job like any finish. buff between coats and apply second.. 2 is all you need.
You can also handwipe, but giving the size of space, i would use lambswool.
yes I have used it on my occasions, all commercial and on pine.. when you scratch the floor, just give it a quick hand sand and wipe on some oil and it blends right in.
Restaraunts i have done with it lasted very long.
Wtaerlox also make sealers with tung oil in it..same applications apply..
In the right drying environment, floor should be ready for use in 2 days.
if you want to go private my email is
flortecjh@aol.com
James