Spray cans can work, Spraying with a gun is a touchy thing. Varnish, unlike shellac or lacquer, does not have a solvent that you can run through the gun to clean it even if it is cured. In other words you had best be diligent about cleaning a gun immediately and thoroughly between coats and after finishing.
Add to that the time it takes varnish to cure out of tack, and even with HVLP you do get some overspray , causing a sticky mist of bits of varnish floating around the shop and spraying varnish with a spray gun can be a not nice experience.
As someone pointed out spray cans can get pricey but they do a fair job. However, if I were you, I would give some consideration to the method outlined in Barry B's response to your post. It's one of my favorite methods of applying varnish and it avoids a lot of what is a problematic finish to apply.
The only real downsize is that it means the coats go on a little thinner and it requires more coats to get the same build. In the long run though, since you essentially side step a lot of the problems of applying varnish, air bubbles, brush marks, drips and sags, it is actually less work.