If you only have small chips, you don't have to repaint the whole caliper. You can easily touch them up by going to a local Autozone and picking up some Duplicolor high temp engine paint in a similar color to your calipers. They come in a spray can. Spray some of the paint onto a piece of cardboard or something, and then use a small brush, dip it into the paint and brush that paint onto your caliper to touch up the chip. Voila!

I've done this a few times on my calipers already, and it does a great job of touching up small chips that occur when you touch the calipers by accident when you're removing/reinstalling wheels.

 

You wont be able to match the color with the autozone color .I would get a color code from the dealer

 

If you touch up, is it still smooth or you can tell that it had been touched up. Thanks

 

I can hardly tell after looking at it, but to be honest, who's gonna look that close to the caliper anyway? Why don't you give it a try. If you don't like the results, you can always spend an afternoon repainting the caliper altogether. In my opinion, however, it's not worth the effort, and the simple touch up will suffice.

 

My clear coat was so f***d up that I did not have a change.

And it looks better in yellow anyway

 

I find that touching up with the canned Duplicolor paint works really well. Of course my original paint was Duplicolor as well. I love the results and it seems to smooth itself out when it dries. Slap on the Ebay decals and the heat from the calipers pretty much bakes them on really well. No clearcoat needed and looks better than my friends stock red calipers.