Lacquers are very subject to blushing, a whitish, slightly rough deposit on the finish. This is indeed due to high humidity. Only solution is to wait till it is dryer, or heat area where you are painting, to lower relative humidity.
Blushing is caused because the rapid evaporation of lacquer thinner substantially lowers surface temperature of lacquer. It can lower temp below dewpoint if dewpoint is close to ambient temperature. The result is that water droplets- in form of fog- condenses out on lacquer surface.
Crinkling may be something else- I have frequently had this effect when I applied too thick a coat. In fact, there are paints called crinkle paint designed to do this, and you apply them very thick. It has something to do with surface of paint drying too soon, not letting solvent from inner portions evaporate properly. If this is the problem try a slightly thinner coat. Lacquer does not dry to the same gloss that enamels do. Frequently lacquers must go down in several coats and need polishing on last coat to really get a good gloss. I don't know how Testors Glosscoat works, since it is a lacquer and you can put it down really thick. Magic, I guess :-)