Put 1 1/2 to 2-inches oil in a deep pan over medium-high heat. Meanwhile, spread about 1/4 of the squid at a time on several layers of paper towels and put another couple of layers of towels on top, blotting squid to rid it of as much moisture as possible. Season squid with salt and pepper; put flour in a bowl.
When oil is hot, put about 1/4 of the squid in flour, then move it to a sieve over the bowl and shake to remove any excess. Add squid to oil along with some jalapenos if you like, adjusting heat as necessary so temperature remains nearly constant. Fry until squid is lightly browned and cooked through, about 2 minutes. Do not overcook. Remove with a slotted spoon and drain on paper towels. Sprinkle with salt. Start next batch while you eat the first with lemon wedges.