I use them in precisely the same fashion, since they're handy, cheap and reliable. I thin with regular "paint thinner" or mineral spirits...avoid turpentine, since the gums in it don't seem to play well over time.
Lacquer thinner can sometimes be used to thin for individual applications, but "in the bottle" it tends to start the break-down process.
It's really tough to quote any hard and fast rule with these paints, since they seem to change formulation almost constantly. In general, they tend to degrade quite a bit faster than they used to...usually turning goopy or even solidifying.
Cheers