Turpentine is a solvent and the PEL is 100 ppm. Which means that the permissable exposure limit is based on the flammability of the substance with a safety margin. Just a note the odor threshold is published as 100 ppm which means if you can smell it, then it is at the PEL. But I am sure that I can smell it well below that level. As usual with a the vapors that are flammable and not the liquid. Unless you are aerosolizing it in a confined space I wouldn't be overly concerned with the flammability.
I use Diamond G and store it in a glass bottle in the fridge. If I am inhaling it, then I heat the bottle up in my hand. I don't bother with drops here and there though I can't say that I have spilled more than a drop or two.