Can wainscoting be applied over drywall? ...
Of course, that is how it is generally done.
Not a problem.
Here is a handy cooperation from lowes.
Answers: Yes. I used the kit available at Lowe's that have the baseboard, chair guardrail, and waincoting. I located the studs in the wall, installed the underside, the panels and the stool rail surrounded by my living room / dining room. Took me 2 evenings to install. Turned out beautiful. Painted the walls tibetan red and the wainscoting is white.