I use the same 8x8 square of cotton cloth (old bed sheet) to apply all my renwax, I keep it in the can, which is finally almost gone after 4 or 5 years. For a new can, just keep it together inside a baggie or snap top plastic container to keep it clean. No sense throwing away expensive wax by using a new applicator every time.
Apply a thin coat and allow it to dry to a haze (about 30 to 45 seconds) then buff with a soft cloth or clean paper towel. You don't really have to try to dig out a chunk of wax, especially after your applicator gets saturated. Just rub the rag with a little pressure on the wax to coat, and apply to a moving blank. I apply it on the lathe after my final buff with white diamond, then assemble the pen. Personally I don't care to put wax on the metal parts, tends to get into the cracks and crannies. One or maybe two applications is all I ever use. It doesn't "build" to a deeper finish that I have seen with more coats.
