Shellac over Watco Danish Oil

The topic of walnut and danish oil and such has been touched on a bunch in these forums, so I apologize ahead of time for any repetition. However, I was unable to find an answer to my specific questions, so here they are:

1) Will one coat of Danish Oil on Walnut sanded to 220-girt penetrate the surface to the point that superficial scratches will not be obvious (this is for a child's chair)?
2) Will a shellac finish over the Danish Oil cause any problems, such as bleeding from the alcohol solvent in the shellac, and will pushing the 72-hour minimum by a couple of hours (say 5 or 6) run this risk of ruining the finish (I turned my shop into a wind tunnel to try and speed the process/ humidity in the area should be around 40-50% for the next couple days)?

I'm a bit under the gun, as the chair is for my first nephew who I will be flying to see on Friday morning. I applied the Danish Oil Monday night, and would like to do a couple coats of shellac Thurs. afternoon/evening. I will be packaging the chair to be checked luggage (any thoughts on this as well?) on Friday. Any and all comments are appreciated.