2005 CAAD8 - Campy/Boyd/Brooks/3T | 2001 LeMond Alpe d'Huez | 1971 Dawes Realmrider
If that was mine and I really wanted to I would sand the edges and just used some clear nail laquer to seal it. is that a road or ATB frame?
Bianchis '87 Sport SX, '90 Proto, '90 Campione del Fausto Giamondi Specialisma Italiano Mundo, '91 Boarala 'cross, '93 Project 3, '86 Volpe, '97 Ti Megatube, , '90 something Vento 603,
Others but still loved,; '80 RIGI, '80 Batavus Professional, '87 Cornelo, '09 Motobecane SS, '?? Jane Doe (still on the drawing board), '90ish Haro Escape
You want the nail polish that will thin or remove with acetone, if it smells to high heaven when you open the bottle like lacquer, that is the one.
The clear coat is more brittle than the color layer and probably the time to clear over the color coat was exceeded and or they were using a waterborne color coat and solvent clear, note it is yellowing too.
Bummer. I would use a sanding stick to help, at a good hobby store there are some hard rubber "formers" to put behind sanding strips that will help, also place some masking tape over the raw color to help keep you from sanding into it.
You really need to get rid of the "loose" clear. then nail polish the area, use a 1/4" wide bristle brush from the hobby store, don't use the brush in the nail polish cap.