Kristy, it sounds like the paint is alligatoring. I have never seen spackle/compound crack like that other than on the very first day it was put on in too heavy a layer. Possibly the plaster is moving and faster than the paint can move with it. Did you use a primer/sealer like B-I-N over the walls before you painted? If you bought the paint from Sears, take some sample flakes in to them for exam. Takes about a week for results. Same thing if you bought the paint at a specialty paint store. You can try if you bought it at a home center but you will not be as sure of a response. Let us know what they say. Henry in MI