Don't wait...
... but I suggest not expecting to attempt to get on with a Major carrier at first. Consider continuing to build your experience, hours, ratings. CFI, fly cargo, establish a solid work record and you may well overcome your previous issue. And if you have not yet, your complete four year degree.
You might also consider a career in the military. A single incident is not disqualifying for entry. You can either enlist, and then apply to a commissioning program and then flight school, or apply to Officer Candidate School.
Background: I enlisted at 17, completed a Bachelor of Science on a full ROTC scholarship, got a Masters degree and went to helicopter and fixed wing military flight school before retiring from a 26-year career. **When I enlisted, I was a high school drop out with color deficient vision, so you can surmount pretty tall barriers with tenacity and persistence.
PM if you want to talk more.