First of all, you need to find some paint to match yourcar and also some touch up clear if your car has a base coat/clear coatpaint system on it. Your local auto body supply store or local cardealer should be able to help you with this step. Touch up paintis available pre-bottled in most of the popular colors. If you can'tfind your color pre-bottled, the auto body supply store should be happyto mix a small amount for you. The price and minimum mixed amountavailable will vary from store to store. While you're at the paintstore you might want to pick up a small can ( 1 quart ) of grease &wax remover. You'll need it to clean the chips before you apply thepaint. You can use rubbing alcohol instead of the grease & waxremover if you'd like. Most people have alcohol on hand.
Next, you'll need to clean the chips very thoroughly. I recommend using a cotton swab to get down into the chip with the cleaner. I use the ones with the paper stick to minimize the risk of scratchingthe paint if I slip. Clean each chip at least twice to make sureyou remove all the wax residue and road film so that the paint will stick.
To apply the paint, you'll need a very fine tip paintbrush. Go to the local art supply store or hobby shop and get thefinest tip brush they have. The secret to making a good chip repairis to apply the paint ONLY to the area inside the chip and completely avoidgetting any on the area surrounding it. It's also very importantto apply multiple thin coats instead of trying to fill the chip inone application. Give each coat time to dry. I'd say ten tofifteen minutes is plenty of time between coats. When the paint thatyou are applying inside the chip is just even with the surrounding paint,you will need to let it dry for at least a couple of hours, preferablyovernight. At this point, if your car has a base coat/clear coatpaint system on it, you will need to apply a couple of thin coats of touchup clear to the repaired chip. Allow the clear to dry preferablyovernight, then use a mild abrasive polish to blend the touch up clearinto the surrounding clear. Don't use a harsh abrasive for this oryou'll be reapplying the clear after you rub it all off.
If your car does not have a base/clear paint system onit, after you have filled the chip to the point that it's level with thesurrounding paint, simply let it dry overnight and use a mild abrasivepolish to blend the touch up paint into the surrounding paint, then wax or polish with your favorite paint protectant.
BY : Bruce98F (from ls1.com post)
Get car paint color and paint bottom of hole with that color.
Wait till that dries a day.
Over fill the rest of the chip hole with clear coat.
Wait 2 days till that is dry.
Take 2000 grit wet dry paper, keep it wet and sand down the clear coat until it is even with your paint. Note this take a lot of elbow grease.
Take clear coat polishing compound and polish till shine is back.
YOU DONE DONE IT. at least for those that have clear coats