Blade will be fine and if you want it to be useable it has to be done so the question is moot. I would hone out the chips most, but not all, of the way and then clean up the blade as much as you intend to do. Then hone it up the rest of the way.
Do this^^^ and the best way to remove small chips if possible is to raise the spine off the hone at 40-45 degrees and do half x-strokes, this is better than breadknifing when ever possible