How can I repair this on a budget?

As the question implies, I’d like to repair this on my own.

Would I be able to achieve a good result by just sanding the lacquer peel back and other areas of the car and reapply 2K clear?

Or should I just sand all the way back, primer, base coat and then clear?

If possible, can you specify what grits of sandpaper and the exact process you would do this.

This is a beater car. So I’m not too worried about it and it serves as a good base to learn DIYing.