You will need to remove everything right down to the old finish, do a real thorough job of it.
Re-read Charlie's post below.
" I bet the problem is that the finish was shellac, which is crystals produced by the lac bug dissolved in alcohol. When applied, the alcohol evaporates and leaves the ... shelLAC. When a second coat is applied the alcohol partially dissolves the first coat, making the coats blend together, called burn in. A typical finish is many thin coats applied, with occasional light sanding between coats to get rid of what I call sins - drools and streaks. Shellac dries fast, so the light coats can be applied at the rate of several per hour.
Rubbing alcohol is isopropyl alcohol. The "proper" solvent for shellac is ethanol - the alcohol in booze - so it is expensive and highly taxed and regulated. If you add a few percent of methanol (chemically similar but poisonous) you have denatured alcohol, so it is no longer booze but works the same. The alcohol you can buy at the hardware or paint store is denatured alcohol, occasionally called DNA. The isopropyl alcohol you used was close enough to screw up the finish, but should be put back in the medicine cabinet and never be used on finish again.
What you did next is, in my opinion, worse. Spray wax often contains silicone, guaranteed to screw up any new finish you apply. Old English Oil is a mystery to me, but I know it is never recommended among those who post their mistakes on forums. If you want to wax your furniture use Minwax or Johnson's paste furniture wax. Like waxing a car - rub it on, let it dry, polish it off. Not as easy as spray wax, but it works and lasts - you redo it every couple years, not every week.
Paint thinner (mineral spirits) is a solvent for many of the waxes etc. that might be on a table - despite the name it does not dissolve paint, varnish, lacquer, or shellac once they have dried. It does not dissolve all the food that may be dried on a table in almost invisible spots, so when I refinish a table, I clean mutlple times with warm soap and water, alternating with mineral spirits.
The cloudiness in a lacquer or shellac finish is often moisture trapped when the finish is soft (either by applying in a humid environment or by applying alcohol to shellac.) Often the trapped moisture can be removed by applying a thin coat of the finish (shellac thinned with DNA, or lacquer thinned with lacquer thinner). A purist will tell you to buy lacquer crystals and dissolve them. I cheat and buy it pre-mixed at Home Depot. Zinsser Bulls Eye is the most common brand - if you find it labeled Shellac, it is a 3 pound cut (fairly thick) and you want it thin, so use 1/3 from the can to 2/3 DNA, making what experts call a 1 pound cut. If it is labeled Seal Coat (sold as a clear primer) it is the same thing in a 2 pound cut, meaning add equal parts DNA to get the thin one pound cut I am suggesting you use. Apply a thin coat of this thin shellac, and see if the cloudiness disappears. If so, add a few more coats and declare a victory. If not use the DNA to remove the cloudy shellac, then refinish."
Charlie Plesums, Austin Texas
(Retired early to become a custom furnituremaker)
Lots of my free advice at
www.solowoodworker.com