I wouldn't use it IN PLACE of infused oil... I'd use it as a 'water' replacement.
Here's MY personal recipe.... you can change and adapt it to your personal preference. It's for a rather thick lotion.
E-wax is emulsifying wax... keeps the lotion from separating.
Lotion recipe

1.25 Ewax and Bees wax (at least half Ewax).
3/4 oz Steric or Cocoa Butter
16 oz water
3-4 oz oils and soft butters (soft butters are like shea butter)

Thank you so much. In this recipe, how much tincture would you use in place of some of the water?

What are you using? I was thinking... I'd just make a tea out of the tincture and water... I have a head code and wasn't thinking properly... you don't need to replace anything.