Bubbling would occur if you did not put down the flash coat. Since the product has solvents in it (which is a very good thing!) if you put down the entire first coat it will cause the product to swell as the solvent escapes so it will take much longer for the product to lay flat. With a very light flash coat you don't have that issue. See below for additional information. You will want to wait at least 24 hours before applying the main coat over the flash coat
If you have an existing EPDM roof, it is important for you to apply a very light coat (a flash coat, approximately 4 mil, or the thickness of two pieces of paper). Failure to do so will result in swelling of the membrane which will require additional days for the product to settle. The final coat will be at a 16 mil thickness. Divide the length of your RV by the number of remaining gallons. This number will tell you the length of the sections needed for each gallon. For example, if your trailer is 24 feet long, you will need 4 gallons. One gallon will be for your flash coat. The remaining three gallons will be for the final coat. After your flash coat, divide your 24 ft long tailer by three (the number of remaining gallons), resulting in eight-foot-long sections. Each of your remaining gallons will cover one of these 8 ft sections.