"Italian" stands for a kind of object here. "Nice" and "red" are its quality characteristics. We should use a comma between two adjectives when they are coordinate adjectives. Coordinate adjectives are two or more adjectives that describe the same noun equally. In your case, all the adjectives describe different characteristics of a table. So, sentences 2 and 4 are correct.
Dreamy Irene has given you a good answer, Ahmed.A.A. I'd just like to add that sentence (1), with its comma between "nice" and "red," is not incorrect if the sentence is intended as a different way of saying:
It is an Italian table that is nice and red.
"Nice" is an adjective that is often coordinated with other adjectives. For example, a student might hope for a test that isnice and easy(nice 'n' easy). In attributive position, we we'd say the student hopes for a nice, easy test.
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