How long is the waiting period for answering the security questions wrong?

Normally, about 24 hours.

Given your circumstances, there are no more chances at answering your security questions.

See If you forgot the answers to your Apple ID security questions https://support.apple.com/en-us/HT201485. Apple has precluded you from resetting them and, thus, has notified you that you cannot answer them satisfactorily. 

So see Security and your Apple ID https://support.apple.com/en-us/HT201303. This document says “without proof of your identity via security questions and other carefully selected criteria, Apple Support can't help you reset a password or perform any other actions on your account.”

Thus, Apple’s notification, we can do nothing to help you, except to mention that Apple support might help you if you have an extenuating circumstance (e.g., you have your receipt for your purchase of a pertinent device from an authorized Apple seller with its serial number on it). If you want to contact Apple Support to discuss any possible extenuating circumstance, see the support options below. Alternatively, if an Apple Store is open in your area, then you can go there to deal with your extenuating circumstance. You also can make a genius-bar appointment (https://www.apple.com/retail/geniusbar/) if you want.

Get a call from Apple support to help solve your problem using this link https://getsupport.apple.com/?caller=kbase&PGF=PGF63005&category_id=SC0245&symptom_id=23362

Apple ID Support https://support.apple.com/apple-id

Apple Support Twitter  https://twitter.com/AppleSupport. There may be a wait.

Apple ID account security for country-specific and region-specific help https://support.apple.com/en-us/HT204169

Get Support: We’re here to help https://getsupport.apple.com/. Go through the options to find the best support option.