Number of coats of stain

I've got the following:

Oklahoma
Mostly Pressure treated pine, a board or two non-treated pine
Full sun
stripped and sanded to bare wood
No previous mildew problems

The deck is a mixture of boards of various ages, none less than 1 year old. Many boards previously stained with Olympic Maximum were stripped, then all boards sanded where necessary to get to bare, smooth wood. Have now powerwashed entire deck and dried over 2 days. Using TWP 100. TWP can says two coats are indicated if stain soaks in less than 15 minutes. Tried a couple of test spots to see color, and wood seemed bone dry less than 3 or 4 minutes after first coat, about the same time after the second coat. So, how many wet on wet coats should I do? Would a 3rd coat be beneficial?
Thanks!