Is the refractory period the period between finishing and another erection or is it the time between finishing and finishing again.

I have no problem with the first but the latter can take me 24-48hrs. Any ideas on how to shorten the time between being able to finish again?

Refractory period is the period between the orgasm and the following one. There is the also the absolute and partial refractory period.
The absoute period refers to the period of time where it just aint gonna happen. The partial refractory period is the situation after the absoute period where it takes more stimulation than regular to get to another climax.

there is nothing to say that intercourse or other stimulation can not occur from one absolute period to the next but it will take time for the next orgasm to occur.

The Idea of tantric sex is that as there is no absolute period after ejaculation, it reduces the partial period and therefore creates the "multi-orgasmic" male.

This being said, without the help of tantric meditation or tecnique I have experianced multiple orgasms with ejaculation with out a flacid period or coitus interuptus.