You can apply poly finishes, including poly & stain Minwax, by rubbing it on with a cloth. No bubbles, no streaks. Takes a few more coats, but it works very well.
However, if you want a "vintage" finish that looks hand-rubbed and not glossy, I highly, highly recommend WoodSheen by Minwax. It's an oil finish and stain combo. Wipe it on, let it sit for 5 minutes, and buff it off. The more coats the deeper the color. Try a bottle and do a few test spots on a scrap of wood. I think you'll like it.
If you really want a poly finish, and you're using anything other than high gloss, you need to stir it to mix up the fine powder that gives it a satin or semi-gloss finish. Bubbles are a major problem. You need to stir very slowly over several minutes, working the can from the bottom to the top. Any gloss or semi-gloss finish will require work after the final coat has dried. There will always be a few bubbles or a few dust specks that settle on the finish before it dries. Super-fine wet/dry paper and a final workover with a rubbing compound will leave it super smooth.