Did you layer it? I have learned in the past it’s a one and done project. If I attempt to add more layers, it comes out milky and peels easily. I also do not sand after unless I really over filled it. Just put a small round of Mylar about the size of a penny or nickel (depending) over it. The Mylar keeps the polycrylic from wearing off.
What polycrylic are you using? Matte, Satin, Semi-Gloss, Gloss? Did you shake the can before applying? Tiny air bubbles may also cause milking.