That is the BEST way to do it!! Put a good amount of touch up paint ino the chip and let it soak in for about 2 hours then wet sand it and buff!! I had it done even on the plastic bumper casuse a piece flaked off and it looks awesome!! There a company out in Elk Grove Village, IL that can help you out!
Schaeffer's Auto Body
1100 East Higgins Road Elk Grove Vlg, IL 60007-1508 -
(847) 437-3650
As long as you have the touch up paint ask em and im sure theyll be glad to help!!
P.S if you want any paint work done they do a great job as well!!