Ellipse (Paul) is correct on the grounds.
I was really addressing the instrument lighting circuits you mentioned.
Daisy chaining is no problem for the light circuits
Daisy chaining is OK for the Instrument 12 volt source (quite typical for wiring)
This is where it can get into a possible problem....
Daisy chaining grounds is OK if the instrument senders are low value resistive sources - such as resistive fuel senders and resistive oil and fuel senders - which is most of the VDO (and old SW) type senders.
It can (and probably will...

...) cause a problem with high impedance voltage sources/senders - such as EGT/CHT thermocouples.
If in doubt, then the separate ground wires to a common grounding point is the best solution.
Also, do yourself a favor for future possible fault finding and make all of your ground lines black... tracing will be much easier....
gil A