I usually assassinate the Pope once he has excommunicated me, unless I think there are only a fe years beforehe will die from natural causes.
Since you have two years to attack you can try my 'pulse' strategy. Save up a few florins then pump out 3-4 stacks. I also build 3-4 arty for each stack, but I don't use them in the first wave. Attack across as broad a front as possible, taking 3-4 provinces. The next turn use the arty break any sieges.
Just make sure that you don't leave any troops in any provinces that have other Catholic faction troops at the end of that second year, and use the next ten years to consolidate your position. Then, when ready, pulse forward across a broad front again.
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