Chip in my hood-paint/body work question

I have a small chip in my hood which is maybe the size of a pea (yes it is pretty small). The chip is through the clear and through the paint and I can see that rust is forming in that spot. What are my options for getting rid of the rust and stopping it from "growing" without making my hood look like $h!t? This is a pretty minor problem but I would just like to stop it now

Thanks
Brian

I would try and get the surface rust off the metal with something tiny, like a dremel or something small that will sand lightly, and precisely. Then use your touch up paint using a few light coats to build up the area with paint and finish it off with clear nail polish to seal it. Wax and buff it a few days later. I had to do this when a rock flew off a dump truck and hit my hood. It's been years and it's still fine.

Or to be the devils advocate you could use it as an excuse to get one of these and get that painted.....
http://www.quadratec.com/products/55023_003_T.htm

Otherwise do what was suggested, the little paint bottles have very thick paint to help fill holes like that...