Without getting into sanding, blending and buffing the fix, do this. Continue to build color (unreduced is best) only where chipped, not beyond the edge. Build only until your color has hidden the substrate and it matches the undamaged surface.
Activate a small amount (1 oz.) two part clear and hardener and pour off a few drops. Add a few drops of your unreduced base color and mix in. You want your clear/color mix to contain enough pigment to hide the edge of your chip. The color will be "floating" in the clear and mask the broken edge. Clear only will show the broken edge, that's the reason for the color being added at the end. There is no do-over once the clear cures.
If you're okay with sanding the repair flat after curing and polishing the repair, lightly sand the clear coat on the area surrounding the chip (maybe 1/4" beyond the chip edge) with 1500 before you begin the process above, but still stay within the bad surface with your color touch up. The last coat with clear mixed in can bridge the edge of the chip by about 1/8". It being sanded with the 1500 will help adhesion on the edge of the clear.
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