Black Beer Pong Table

What is the best clear coat finish to use over a table painted with latex paint?
I built a beer pong/gaming table and am in the process of painting a design on the top (an 8′x4′ piece of oak plywood) and need to coat it with a clear, durable finish that will be subject to regular use and frequent spills.
So far, the best suggestion I have is Minwax’s water-based Polycrilic. I would love to hear any other products or suggestions on applying it.
Also, is there a certain amount of time I need to wait between painting and applying the finish?
Project pic (so far):
http://farm3.static.flickr.com/2279/2326438140_89935a42e3_b.jpg
–the white area will be painted black–
Water based polyurethane is a pretty tough but easy to apply finish. I believe it is being used by some for the varnish on conventional wood floors.
I’ve used it with a good quality foam brush to coat several pieces. Just don’t work it too much. Brush it on and don’t keep brushing over it.
glow in the dark beer pong table