Like Jonathan, and as I've mentioned on another post, I'd be worried about sanding down. One sand through and you're b*ggered, you can never get it right without stripping entirely and starting again (DON'T ask how I know that.....!). As to the colour, it depends where the dye is, in the lacquer, partially or completely, or on the wood as to what the effect of sanding would be. Don't know about Ibanez, I've never refinished a translucent one, but Patrick Eggle for example has the dye throughout the lacquer and are therefore very difficult to repair finish damage, as you sand down a little, it changes colour and what was a good match is no longer.
Having said all that, properly stripping a guitar and respraying requires knowledge and equipment so it would probably be worth giving the sanding a try. Just take a great deal of care and be prepared to bite the bullet if it goes wrong.