Well if it was me Chris and guessing that the paint is still in good shape, I'd sand the hood with 180 grit around the chips. No need to take all the paint off. Use a glazing puddy over the chips to fill them in and sand it then use primer and seal and paint it.
Saves on stripping the hood and having to use Epoxy primer. Guessing all the chips are on the front of the hood so you could just prime the front and not the entire hood.