How to flatten paint chip paint blob
 

Any tips other than being really careful how much paint to apply?

Make sure it's thinned enough to flow, use an artist brush to apply and use multiple coats to build it up.

carefully wet sand w/ 1200-1500 grit and buff...go easy!!!

^^^ go easy... you can use dish soap as a lubricant to create a surface to float 1200-1500 grit wet-sand paper. I block in onto a paint mixing stick cut down to two inches. The soap helps keep the paper off the paint surface around the paint blob.

To apply touch-up paint, use a toothpick and have patience to only apply as much as the chip will "take". A small amount of paint at the end of the toothpick is enough. Touch the exposed metal and you will see the paint get pulled off the toothpick - capilary action? Wait for it to dry, repeat until you build the paint just above the un-chipped surface. Sand as above.

Carefully cut the top off with one of these if you have a big blob. Then wet sand.

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