I'm considering doing a front end PPF kit...I just met with a guy at local shop that does PPF, full wraps and ceramic coating and he mentioned that there is no coating/paint/wax that will prevent chips and scratches from branches, gravel, sand, etc. including a high quality ceramic coating. The best protection is PPF and ideally you want a good quality film that is self healing...some last up to 10 years. I questioned his take because all of these guys are part salesman but everything I've read says he is right.
If the paint/coating you're considering is inexpensive and won't damage your paint then you can give it a shot, but its a risk if you're really worried about scratches/chips while off-roading.