shellac
Fred,
Most friction polishes that I know are shellac-based. Most friction polishes are applied directly to bare wood. I use Hut Crystal Coat on boxes quite a bit. Try applying a coat of spray shellac first, letting it spin dry a little, spin-polish the shellac with a paper towel, and then apply the friction finish. You should get a better finish this way. Shellac dries fairly quickly, so if you give it a little time before reverse turning with your vacuum chuck, the shellac should prevent the finish from bleeding through.
One note of caution: The friction finish will interact with the shellac and if you don't let it dry before reversing it, then you should EXPECT it to bleed through.
Thirty years of woodworking has convinced me of this principle:
Impatience is the biggest negative factor in applying finish to a wood product.
You said that you don't have time to wait for finish to dry. Do you have time to refinish every project because you didn't do it right the first time? 😕 You have proved that you are doing something wrong, and you have asked for help. You have a choice: Let the finish dry before reverse turning; OR continue to get bad results by rushing the process.