Dry off the bathtub area that has the large chip. It must be perfectly dry for the repair compound to adhere to it securely.
Sand down the chipped area using medium grit sandpaper. The chipped area should no longer feel jagged. Do not sand the non-scratched porcelain area.
Wet a clean, dry cloth with rubbing alcohol and wipe down the area you just sanded. Allow the area to dry completely.
Mix the porcelain repair compound and the high-gloss paint on the plastic palate until the color matches the tub.
Scoop up a small amount of the mixture using the straight razor blade. Wipe the mixture onto the chipped area of the tub until the hole or cracked area is filled up.
Scrape off the extra compound mixture with the razor blade. The compound should be level with the rest of the tub's edge.
Wait for the mixture to dry on the tub for at least 24 hours.
Soak a cotton swab with nail polish remover. Rub the cotton swab over the edges of the dried compound mixture until it blends in with the porcelain of the tub.
Allow the area to dry for a few minutes before using the tub for baths or showers.