simply use if player{item is not on cooldown}
like this:
if player{item is not on cooldown}:
[player action{launch projectile (or any other item ability)}
player action{play sound (cosmetic stuff)}
player action{set item cooldown}]
naturally cooldown can block you from placing a block, or using bow/potion/shield. but not script actions , you need to block them with a script block.