Airbrushing w/several light coats

There are a couple of things that may be going on:

If the paint is really completely dry within a minute, you need to modify your technique. The paint needs to be wet enough for the individual droplets to flow for a short time after it reaches the surface. If this is not happening, you need to do one of the following: drop pressure; increase paint volume; get closer to the surface. Remember that a light coat should be a continuous or nearly continuous film, but too thin to completely hide the surface.

If enough paint is reaching the surface, but drying very rapidly, then you need to either add an acrylic retarder or change the solvent you are using as a reducer (thinner) for spraying. The latter is an "advanced" technique. Using the retarder is easier and helps eliminate "tip dry." This is a common difficulty with acrylics, especially those thinned with alcohol.

Also note that what you perceive as "completely dry" may be dry, but not cured—there is a difference. While many acrylics do cure faster than enamels, they still require a significant amount of time to cure completely. Generally speaking, unless the directions on the bottle or can say otherwise, you can apply a second coat to most hobby acrylics as soon as they are tack-free.

And  here's another fine example of why I spend so much time in here. I'm always learning something Thanks Ross for sharing this. As you know, I have yet to try acrylics

Good stuff Ross.
Right now I'm at 15psi, about 4-6inches away using MM acrylics w/Tamiya thinner (3-to-1 paint-thinner ration).  I think my main thing is being new at airbrushing I'm leaning on less paint then more w/my double action.  I've seen what excess paint looks like (drips) and am being conservative.  I thought the Tamiya thinner had retarder in it.

Tamiya thinner does indeed have retarder in it. My only airbrush experience is spraying with the Tamiya acrylics/thinner combo. The pressure is a bit lower than what I use (doesn't mean you're wrong!), and I use a bit more thinner (3-to-2). But I know what you mean about fast drying. Spraying very light coats do indeed dry (but not cure) quickly. Unfortunately it can also cause the paint to dry just before it hits the styrene, leaving a sandpaper-like surface. You didn't mention that, but I wanted to throw that out as a warning! Fast drying paint is not a problem, until it's a problem. Ross is quite correct about waiting until the paint is tack free.

"Aha!" Said the sleuth in the deerstalker cap…

I don't use MM acrylics much, but those I have used, dried as fast, if not faster, than Tamiya. I'd consider taking your dilution ratio to 1:1, even lower than Bill's, drop your air pressure slightly, and get a little closer. You have to experiment a little to find what works best for you, what you are comfortable with.

And bear in mind that the conditions around you can have a large effect on the behavior of the paint. High and low humidity are particularly problematic for most acrylics. High or low temperatures also can have a pronounced effect. For example, I have a humidifier in my workroom for winter airbrushing. In the summer, I modify my technique on very hot or very humid days, and avoid air brushing on days when it is both hot and humid.

And don't get discouraged by the apparent complexity of airbrushing. Every time I pick one up, I learn something new.

You're welcome, Eddie!

Ross, if it weren't fer you, I'd still be playin' with my Badger 175 instead of using it You've been a big help in instructing me on the usage of the double action & One thing I recall from you & Tho9900 (Tom) is Practice practice practice air pressure & thinnning ratios mixed in with distance

I need to practice some more... been lax in my progress

The great thing is that even though I have these fast drying times I don't get and sandpaper effect.  It's a great smooth flat finish - more than I hoped for when I invested in an airbrush.  If it only gets better from here I won't be complaining!