I would start with 800 or 1000 grit wet sand paper. A small piece about the size of half dollar coin and start in the middle and work your way out smoothing out the high area. Then apply the touch up paint overlapping the factory paint. Let it dry, cut a piece of 2000 grit the same size and gently work over the entire area that you just painted to bring it flush with the factory paint. Mask off the area and leave about twice the same area as the original chip size. Clear coat it, remove masking, and repeat with 2000 grit. Come back in about 4 days with a polisher and buff it all out.
1997 Pontiac Bonneville SEi-SCRAPYARD
2000 Chevrolet Blazer LT 4X4 4.3L
2002 Chevrolet *-10 LS Ext Cab 4X4 5.7 V8