you don't even have to respray the whole hood. There are mobile paint guys here that will come out and airbrush the chips out. price usually seems a bit high, but it's cheaper than respraying the whole thing.

after you get it fixed, look into the 3M stone guards. They are thick pieces of transparent adhesive that afix to your bumper, hood, mirrors, and any other leading edge that is susceptible to stone damage. They work better than those fabric car bras because those tend to fray and flap off the paint, wearing through it and causing more damage than they prevent. not to mention the crap that grows under them.

Another way to do it using the touch-up paint is to paint it on, then use really fine grit sandpaper and a rubbing compond to buff it out. It wont look perfect, but it will look better then nothing, and most people wont even notice.

^^ That is totally true, unless you are specifically looking for the marks you will never notice..