A one pound cut of shellac is made from 1lb of shellac flakes dissolved in one gallon of denatured
alcohol. Of course you rarely would need a whole gallon of shellac so the ratio of shellac flakes to alcohol remains the same as you decrease the amount of alcohol used. In other words, to make 1/2 gallon of of a 1lb cut you would use a half pound of shellac flakes dissolved in a half gallon of alcohol and so on. The volume of shellac flakes is a weight measurement so you need something that will weigh small quantities. I use a small scale that was used to weigh food portions.
You can buy premixed shellac but as far as I know, it's only be readily available in "clear" and "amber" colors (at least at the borgs).The premixed variety is normally a 2 lb cut (thicker than a 1lb cut) as it comes from the can and the premixed shellac normally contains a wax ingredient except for Zinsers "Seal Coat" that is de-waxed. Of course you can reduce to 2lb cut to a 1lb cut by thinning with alcohol. I determine the weight of flakes I need to make the amount of shellac I want, weigh out the right amount then use an old coffee grinder to reduce the flakes to a powder. This allows the flakes to dissolve faster in the alcohol. I then measure the proper amount of alcohol into a jar and stir in the shellac. I'm sure you can go online and get info on mixing your own shellac and the advantages of doing so.
Shellac flakes of many colors and types can be purchased on-line from a lot of sources and are also available from Klingspor and Woodcraft. Since shellac has a limited shelf life, if you mix your own, you need to only mix what is required for the particular project you're working on. The dry flakes will last almost indefinitely if kept in a cool, dry environment.
I use simple mineral spirits to thin the boiled linseed oil. Apply the thinned BLO with a clean cloth, let in soak in for a few minutes, then thoroughly wipe off all the excess with a clean cloth. Be sure that the oil is totally dry before applying any finish. I normally allow a few days but some online say you can finish with shellac or apply a vinyl sealer if you are doing a lacquer finish in as little as 24 to 48 hrs. I try to stay on the safe side and usually allow at least 3 days.
I would also suggest that you allow time for others in our group to reply to your thread. Most of the members here have far more finishing experience than I and may have some suggestions about a finish technique that you might like better or is simply superior to my suggestion.
Good luck with your project.
Terry