Don’t want the wood to come through but are still after that distressed look? Apply your first colour and wait to dry.
Then apply your second coat which will be your dominant colour that you mainly want to see.
Once the second coat is dry then start sanding. Bear in mind you can oversand, so go gently first time round until you get into the rhythm and are happy with the sanding balance you are after. Use grit 180/220.
Tip: This is when reading your wood is important. On oily wood you may need to wait 4 hours (or longer) until painting again. If your wood is oily then clean with white wine vinegar before painting. This refers only to the base colour (1st layer).