I used tamiya acrylics many times when i did planes. I always used tamiya thinner. Yes, you can use alchohol and lacquer thinner.
Thin until the paint drips off your stir the consistency of milk. If it does not drip almost instantly after withdrawing the stir from the pot itis not thin enough.
About 12 psi on the compressor and you are good to go. You should have a moisture trap on your air lone, too.
2 coats is all you need