lol wow some great ideas there.
If its a paint chip, such as a rock ding (but no dent) get yourself a sanding block with some 400 grit wetsand paper, and wetsand the area about 4" above, below, and left and right side of the chip. To "block" the chip out. What it will do is feather the edges of the rock chip out so that its not noticeable. Bondo or even spot putty should not be applied over paint. Bondo should be applied only to bare metal, and or epoxy primer. Best bet to get the surface down to say fix a nice big dent is to use a DA sander with 80 grit on it and rough featheredge the surface. This means hold the DA flat untill you smooth the edges of the area to be bondoed. Then take an angle grinder with like a 36 grit grinding disc and finish the paint off in that area and take it to bare metal. Apply filler in THIN coats. And blocksand with 80 grit. Guidecoat each coat with either 3m or SEM brand guidecoat. This will show up any imperfections and irregularitys in the surface. If the block is held flat and guidecoat is sanded off an area but is still there on an area that the sand paper has been used on, that is what is called a "LOW SPOT". Apply another thin coat of filler (bondo, rage gold etc) over the whole area and sand down again. The bondo needs to match the height of the original substrate(base, clearcoat whatever). After you guidecoat and it all blocks out well, check your edges to see if they have feathered. This is where it can become tricky somewhat. Because you dont want to sand TOO far, because then you need to apply more filler, but if you dont sand enough its going to look like some retard did the bodywork lol. When you have the edges done, its time to check for pin holes and apply glazing putty to fill them, or minor low spots. Sand this with 80 and 180 grit. Then apply your epoxy primer, again be careful not to sand too much. I like to have extra bondo still left to sand when i apply my glazing putty so i dont sand too far. After this, apply 1 or 2 coats of epoxy primer, taking this out about 3" either side of the bodywork (so its over the normal SANDED paint). Then wait a few hours and apply a primer surfacer. I highly recommend sherwin williams SPECTRA PRIME. Usually two coats in plenty, if prepared right. Then blocksand that with 400 wet or 320 on a DA sander (depends on the panel) Apply a sealer, and let that flash and apply your basecoat. DO NOT SEAL untill you're READY to spray basecoat just about.
Hope this helps. Also you can wetsand the sealer with say 400 wet, to help level the surface and help get rid of any hair, or bugs, or dirt or whatever ends up in there. Apply the basecoat and get rid of any dirt etc in it with 1000 grit paper (wet). Fog another light coat on there. Metallics will probably require two more coats of base, because of how the metallics lay down. Let that flash and apply your clear coat. 2 coats should work out fine.