Make the German chocolate syrup: In a medium saucepan, combine 1 cup evaporated milk, 3/4 cup packed light brown sugar, 6 tablespoons butter (cut into pieces), and 3 egg yolks.
Cook the syrup over medium heat, stirring constantly, until it thickens slightly, about 8 to 10 minutes; it will thicken more as it cools.
Remove the saucepan from the heat and stir in 1 cup chopped toasted pecans and 1 cup sweetened shredded coconut; set the syrup aside.
Make the pancake batter: In a large bowl whisk together 2 cups all-purpose flour, 1/2 cup granulated sugar, 1/2 cup unsweetened cocoa powder, 1 1/2 tablespoons baking powder, and 1 teaspoon salt.
In a separate bowl, whisk together 2 cups milk, 2 lightly beaten large eggs, 3 tablespoons melted butter, and 1 teaspoon vanilla extract.
Pour the wet ingredients into the dry ingredients and stir until just combined, then fold in 3/4 cup semi-sweet chocolate chips; do not overmix.
Heat a griddle or large nonstick pan over medium heat and lightly coat with oil or melted butter.
Pour about 1/4 cup batter per pancake onto the hot griddle. Cook until bubbles form on the surface and edges look set, then flip and cook until cooked through, about 1–2 minutes more.
To serve, stack pancakes and spoon the warm German chocolate syrup between layers or over the top.