I agree with Kevin you want

I agree with Kevin you want to do all your post processing at the end. If you have Adobe Light room you can do all the color edits in light room. Light room should have a more nuanced ability to change things then premiere would. I have found that using the GoPro Studio application is a pretty easy way to make time lapses. You might use that just to do a quick test to see if you are liking what you are doing.

Sidd