I have a history of ligament damage and injured my ankle again....this time i have a bone chip fracture...what has to be done to fix this?

It all depends....: If it's an old injury and it was just found on an x-ray then nothing may have to be done. Te old chip may be irrelevant. It depends on your exam and your x-rays (possibly an MRI although not usually). It may be as "simple" as an ankle sprain, with ice, elevation, possible brief immobilization, and proper rehabilitation. It's also possible it may require surgery, worth getting an eval and options.

Depends on where : Some bone chips are stable within the ligament and can be treatd conservatively, others interfere with normal ankle motion and are best treated surgically. When there is pain with motion or with weight bearing it may need to be removed. Repeated injury to the ankle ligaments can lead to progressively more severe trauma and sometimes to ankle joint injury. Physical therapy can help too.