Any advice on how to address the paint chips on the hood? Started with lovebugs, then grew from there. The one on the quarter panel can be touched up, but I'd like to keep the chips on the hood from spreading.

 

You're all the way through the clear and the basecoat. Once the clearcoat is gone on basecoat/clearcoat paint, it's just a matter of time before further damage happens from exposure to the elements.

You should consider re-painting the hood and possibly installing clear bra afterwards. You could get by with some touch-up paint on the small areas.

 

Definitely time for a respray, and I second the clear bra statement