Give it a good 3 days at least, actually.
Time for another lesson, LOL!
Even though all the yeast should be produced within about 12 hours, chilling and decanting has some significant differences from pitching without chilling/decanting that make it very important to be a fair bit more patient. You're putting the yeast into dormancy. When yeast goes into and comes out of dormancy, it is a pretty stressful time for it, and it depends on its stores of energy and nutrients.
Because of this, if you're going to chill and then decant, it is important to optimize yeast health by allowing it to build up reserves of glycogen and trehalose. It only starts building up glycogen reserves when it detects dormancy is imminent - that is, it waits until the remaining food supply is very low before even beginning to build up its reserves. Glycogen is not just a good source of energy for the yeast when the come out of dormancy, but it's also critical for cell maintenance during during that time. So it's critical that you let the starter ferment 100% *completely* before beginning to cool it.
Trehalose is an important stress-protectant that mostly begins to be made when the yeast is chilled. It starts quickly and builds up to optimal levels in about 48 hours. So after putting the starter in the fridge, you want to let it chill for at least two full days. It also ensures enough time for almost all the yeast to settle out.
Then, when you make one more 3.5oz/1L starter, do the same thing you already did with the 70° wort. In fact, it's the trehalose that makes this MORE than okay! Once the yeast warms up, it starts consuming the trehalose, and it won't take too long to use up almost all of it. But since THIS starter is the last step, and it's only 1L, you are best off skipping the chilling/decanting and pitching the yeast (with all the liquid) at peak activity - about 12-36 hours in. If you miss this window of time, you're best off letting it ferment completely and doing things the long way again.
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So to summarize:
1) Ferment this starter out COMPLETELY. Give it at least 72 hours (3 full days), although if you can wait an additional day or two in order to be 100% sure, that's even better.
2) Place in fridge (ideally 35-40°) for at least 48 hours.
3) Make one more 1Liter/3.5oz starter. When you're ready to add it to the yeast (at 70° is a good temperature), take the yeast out of the fridge, decant the liquid, and add the new starter wort .
4) Ferment on stirplate for 12-36 (ideally 18-24, IMO) hours, and then pitch the whole starter into your batch of beer-to-be!
5) If you miss the 36-hour window, do steps 1-3 again, except this time pitch the yeast into your batch in the fermentor. When you decant the liquid, it'll be much easier to pitch if you keep a bit of the liquid and swirl the yeast back into suspension, and then pouring that slurry into the fermentor.