Congrats on finishing your first book! It's a big accomplishment.
When I sit down to do a revision, the first thing I do is to figure out what story it was I thought I was telling. I get that firm in my mind and then I read what I wrote.
As I read, I made notes where what's on the page fails to be the story I wanted to tell. Whether it's a big thing or a little thing, I note it. I don't try to figure out how to fix it at that moment, mind you. I just make a note.
Then I put that error out of my mind and continue reading until the next place I failed.
Once I finished reading, then I go through and then try to figure out how to fix what didn't work for the entire story to make sure it all hangs together as one story. Once that's done, I go through and start the rewriting.
With that done, I hand it to betas, who read for story, continuity, and such. I make any adjustments after hearing their commentary.
Then I read it aloud. The entire book. Aloud. This allows me to catch nearly all the typos, bad grammar, dialogue problems, etc, to polish it up.
Should I go Holly Lisle-style and do as much as I can in one go?
Remember that Holly's revision method presumes a lot of things. 1) That you know what story you're telling. 2) That you know what the various parts of the book are, how to construct them, and what writing techniques work best to do what you wanted to do. 3) That you know how to recognize it when something doesn't work. 4) That you know how to figure out what is exactly not working. 5) That you know how to fix what's not working. 6) That your first draft isn't so grammatically challenged that you can see what is what to start with.
As multi-published professional, Holly knows all that stuff. She already has the support group around her to help her with anything she, herself, can't do.
As a first-time novelist, the odds are that you don't have all these skills. I've met several first novelists that have none, and have to learn it all from scratch.
Since this is your first book, you're still discovering what you know and what you need to work on. Take your time and figure it out. Find out where your natural strengths are, what you need to work on, what kinds of stories you like to tell, how you want to tell them, etc. Give yourself some time. If you keep at it, you'll need fewer steps (like Holly, perhaps like myself), but until you're comfortable in your knowledge and skills, take revision in smaller steps and build your confidence.
Good luck with it. I've found revision to be very interesting and revealing about myself as a storyteller. Hope you find similar cool things about yourself.