This is happening to my carbon bonnet. Its the clear coat that is coming off and flaking. But it looks like the carbon is damaged from the bottom. Hot to fix?
I wouldn't think you can do anything about the actual weave. For the clear coat I would imagine you should be able wetsand it down and re-lacquer it. Read up on sanding lacquer though, don't just attack it with whatever you've got in the house as you'll need to use some very fine grit paper and rubbing compounds etc. and be aware that it will be LOADS of work to do.
Personally I would just get it wrapped or resprayed.