Preheat oven to 275 degrees. In a large nonstick skillet, heat oil over medium-high. Add shallots, jalapenos, and ginger and cook, stirring, until softened, 7 minutes. Stir in cumin and coriander and cook until fragrant, 1 minute. Season with salt and pepper. Let cool slightly, 5 minutes.
Transfer to a large bowl and stir in squash, eggs, and flour. Wipe out skillet, then lightly coat skillet with cooking spray; heat over medium. In batches, add batter in 1/4 cupfuls to skillet and cook until pancakes are golden brown, 6 to 8 minutes, flipping halfway through. Transfer pancakes to oven to keep warm; repeat with remaining batter.