2 coats and then a 3rd around water-line, leading edge of keel and the whole rudder for me.
I get 2yrs with Altex where i am, same with most of the locals as well. Done in late Sept, I'll dive on it maybe 3 times during the season (but never in winter, too cold for my bones, so just the waterline from the dinghy).
Talk to the locals where you sail, see what they use -conditions might be different.
We had a bloke move his boat down from years in Pittwater with a new coat of his regular AF, but within 8 or 9 months down here he was pretty badly fouled.
Don't know how to link this, so a pic.
Jode5 posted good reasoning behind the timing.