Smoke, it will last for quite a while, but I would only mix up enough to paint the stock two or three times depending on how dark you want to do. As for the lighter, save it for the barbecue. Get a heat gun. A cheap one can generally be had from the Dollar store's "tool" section (I use that term lightly) for under $20. The lighter will take forever, and will probably give you shoddy results. Also the Ferric Nitrate solution works well with either alcohol, or water. Try it first on a scrap, or in the barrel channel, also let it dry before you blush it with heat.
Bill