The idea is your ENTIRE MIX adds up to -3db at the Master bus.
So nothing is quieter or louder in relation to each other. Just everything is quieter evenly so all you have to do is turn up your headphones and monitors to make it ALL louder while you mix/record.
THEN once your mix is done you use a limiter and/or put your mastering effects on (like Izotope Ozone) and use those to increase the level evenly to just below peaking (and the final limiter prevents the peaking at whatever level you need for the target media like CD or mp3 or whatever).
And yes... you CAN use a limiter on tracks. You can use them wherever you want to do all sorts of stuff (but most times you'll want a compressor instead). However you probably don't want to use fancy mastering effects (like Ozone) single tracks just to limit peaks because mastering effects tend to be VERY resource intensive (so you would just use them on the Master bus or on a stereo mixdown in a new project).
As far as "experience" there is always more to learn. I've actually been recording for about a decade now but only really started "learning" stuff "properly" a few years ago and likely need another 5 years just to actually really know what the heck I'm doing. lol
There is lots of great info on this site and all over the internet though so we are lucky. The old guys had to actually have access to schools, books and real life studios. These days we can mostly just screw around with computer stuff and learn.
Cheers.