Dude, I'm sorry that happened to you. I don't let anyone touch my guitars. I'll share amps because to don't have to strap them around your neck of beat on them, but I have never let anyone play my guitars, other than a few beaters.
I was going to say to have him pay for the repairs, but then, if it was my guitar that got damaged, I would always see that one spot that got chipped, no matter how great of a repair job is done.
It sounds like yours is care of your guitars, so you have two options, either have him pay to have the finish fixed flawlessly, or have the whole guitar replaced.
Also, get some in-suhr-ance from him if he's not going to pay you right now, or start taking chips out of his face...