With that much damage already done, it's probably time for a respray and then install the clear bra if you want to protect it. No point in putting a bra on over the chips and defects in the paint.
Find a good place to do the bra install otherwise it'll look like crap.
'11 BMW E92 ///M3 - ZCP and DCT
'13 Toyota Tundra - 4x4 Platinum CrewMax, 5.7l iForce V8