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I would take the hood off, sand it with a 2000 grit, clean and clear coat over. Same amount of effort as hoseing and buffing, I think... just do light coats to prevent dripping.
I had peeling clear-coat under my rear side window. I removed the loose bits and sanded it down to ease the edge. After cleaning I applied new clear-coat from a small spray can. Where I did not have over-spray it looked great. To get rid of the over-spray I wet-sanded the areas starting with I think 600 grit and ending at 5,000 grit. This resulted in a surface so smooth that water would bead on it.
I'd do some research on sanding clear coat first to double check the grits I used.