Here is how I apply my CA Finish:
After turning, I sand down my piece to 320. I apply a coat of thin CA by folding a paper napkin in thirds, holding it below the spinning pen barrel, and running a bead of thin CA glue between the napkin and the barrel. The lathe is running at about 600 at this point.
I shoot the spinning barrel with Aresol CA Accelerator. Wait for 10 seconds, then sand with 400g paper. I repeat this process. This prepares my barrel for the CA top coats.
Again using the paper napkin, I apply 3 coats of thin CA with accelerator in between. I then apply 3-4 coats of Thick CA glue by making a bead of glue on the paper napkin that spans the width of the napkin. Then I rub the barrel with the glue to cover it. CA Accelerator between coats.
Once this is done, I hit the barrels with 320g dry to knock down any defects in the top coat. Then 400g dry. Then I MicroMesh wet through 12000. I check the barrels every 2-3 MM pads to make sure I'm getting all the scratches out and that there are no defects in the finish. If there are scratches, I back up a couple of MM pads - if there are defects, I sand out the finish and start over. When I MM, I make sure that I'm not applying a lot of pressure to the barrels through the MM pads, I simply let it ride with about as much pressure as you would use to hit the space bar on your keyboard.
From there, after I have finished up to 12000, I'll pull the barrells off, check the ends for chips, and assemble. I use paste wax on the bushings, or use delryn(sp?) bushings. Beeswax would work fine too.
Good luck...