Nice bike. I like the racks, fenders, lights and cantilever calipers. Thanks for the pictures
Gillparis . A lot of our members use nail polish to touch up the chipped spot. The best method would be to remove the surface rust first, then apply the nail polish. I use paint that is intended for models, Testors brand to be specific. I have to mix several colors together to get to the right color. Some attempts are better than others with this method, but a color match that is close, looks better than rust spots.
The other suggestion is to just wax it with an auto wax. It will keep it looking better than it does now and prevent it from getting worse.
Keep the pictures coming as you progress though the paint and wheels.