So I just bought the new dobyns champion rod and I notice the epoxy that covers the guides on one of them has a little chip in it. So I was wondering if I should send it back or is it still good to fish since it's not touching the line? 

If it was me, I would send it back.  Using something that came damaged (regardless of how small) is never a good look.  But I expect to get exactly what I paid for and undamaged.

A photo would be helpful. If you bought it from an on site dealer, exchange it.  Other wise call the seller or Dobyns Rods.  They will do the right thing.