just thinking about a chameleon in the wild as far as food goes because wouldn't they hunt for bugs daily if in their natural habitat? Just a thought that crossed my mind.
... however, hunting for bugs does not necessarily mean finding and obtaining them. I'm guessing your question is based on the recommendations to cut back on feeding in adult chams? A wild cham probably experiences feast or famine, with plenty of bugs one day and few or none the next; also, the nutrition we're supplying our chams and the health status of the bugs (e.g. well-fed and hopefully parasite-free) is likely much greater than chams would encounter in the wild.
Depends on the area and the cham, but during a dry season their meals would be small and infrequent - though most chams kept in captivity would have access to food year round and be able to snatch up any food that crossed their path (which would be regularly).
In the wild most larger chams will eat fledgling birds and small lizards/geckos and frogs, and would only need one of these every 4-5 days to really meet their metabolic demands.
As for the question of 'hunting' - no, hunting isn't really a priority. There's enough food where these chams live (common chams kept in captivity) that they could sit on one branch their entire life and enough food would come by that they could eat that they'd never have to move.
They are efficient hunters if anything, but they aren't cheetahs or peregrine falcons.