this question is difficult because paint systems are very elaborate today and expensive. if you ask 10 body shops you'll get 10 different answers. lookup
www.camaro.net, they have a body and paint forum. charley's thraser camaro was done with a red ppg 2 part enamel system that burns your eyes, looks fantastic, and the guy who built it says you can repair rock chips easily. correct me if i'm wrong charley. the best thing is to strip first. this gives you a better clue to body work needed, prevents lifting of the new paint.