Sand the entire furniture piece enough to remove the current finish. Wipe away the dust with a clean tack cloth.
Pour the base coat into a paint tray. Apply the base coat color with a roller or paintbrush, in even strokes going in the same direction. Allow the base coat to dry completely.
Apply paste wax to the furniture in the areas you want to base coat to show through. Focus on the areas of the furniture that would naturally show wear, such as the edges, drawer faces, tops and legs of the piece. Wipe away any excess wax.
Apply the top coat paint in even strokes in the same direction you applied the base coat. Allow the top coat to dry completely.
Use coarse sandpaper to rub the areas where you applied the paste wax. Rub until the base coat shows through. You can also rub through the base coat in some areas to expose the wood grain. Wipe away the dust with a clean tack cloth.
Spray the entire furniture piece with a coat of polyurethane sealer. Spray the piece in a well-ventilated area.