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On the dust: You just need to be fastidious about sealing spaces. Use plastic dust sheets in pairs to create airlock type systems. If you've got >1 floor put dust sheet doors at the top and bottom of the stairs.
On the time line: You've pretty much nailed it. Remember to factor in time to hoover and wipe the floors. We sanded ours in the day, varnished at night, then varnished another coat in the morning and went out for the day.
I'd definitely have a go your self. It's not like you're making garage doors.
Sanding wooden floors. I know a number of people have done this recently with enviable results, so I was hoping to tap into that knowledge. I have a couple of questions - pics of my floor below.
Cheers!