db_connection is what ecto_sql steps on. It is the lower-level library that Ecto’s DB handling code (namely the ecto_sql library) is wrapping in a more convenient package for us.
And yes, you simply have to add queue_timeout and queue_target to the Repo configuration. If you expect long transactions then it’s worth to simply increase queue_target to something larger and ignore the other option. In my hobby and professional apps I usually bump it up all the way to 5000 (ms) to give the apps breathing room to wait for a connection from the pool in high-load conditions. Having Ecto error out in such a situation isn’t very useful to me so I first increase the queue_target and then start analysing why my transactions take so long.
Alternatively, you can just increase pool_size to a bigger number. I rarely accept the default of 10 and usually set it to 20.
EDIT: Here’s my Repo config in one of my hobbyist projects that does ingestion of public retail datasets:
config :retail, Retail.Repo,
username: "postgres",
password: "postgres",
database: "retail_dev",
hostname: "localhost",
pool_size: 20,
queue_target: 5000,
migration_timestamps: [type: :utc_datetime_usec]
