The nitrite spike is of much shorter duration than the ammonia period. I've heard reports of as long as a week, but it shouldn't really be more than that.
1 ppm ammonia should produce almost 3 ppm nitrite, so if you started with 4-5 ppm ammonia and now have only 0.5 ppm nitrite then you already have some nitrite bacteria established and you shouldn't have long to wait.
I would recommend going back up to the full dose of ammonia. The point is to establish a large colony of bacteria able to handle the expected bioload, so the more ammonia you're feeding the more bacteria you'll have, and the higher the bioload your filter will be able to support.