When it's dry to the touch (tack free), you can recoat if you are airbrushing. If you are brush painting, it's best to wait 24 hours, especially with some brands like Tamiya and Gunze, and with any gloss color.
For masking, however, you must wait 24 to 48 hours for full cure.
One thing is very different about acrylics, vs. enamels: acrylics require a very clean surface. Wash the model in a good degreasing cleanser like 409, Simple Green, or Windex before painting, and don't touch the surface thereafter with your bare hands. An alcohol wipe just before painting will also help static/dust problems.