Place a single layer of cut zucchini and squash into colander, lightly salting the rounds before adding another layer. Continue, salting each layer until all zucchini and squash are in colander. Place an inverted small plate on top of the layers, and then put heavy weight on top of the plate (large canned good works well). Allow to sit at room temperature for about 2 hours to remove moisture.
Rinse zucchini and squash well and then thoroughly pat dry.
Pour enough olive oil into a wide skillet to reach a depth of 1/4 inch. Heat to medium high. Carefully place first batch of zucchini and squash rounds into oil, without crowding the pieces. Cook for about 3 minutes per side, turning carefully. Remove rounds to paper towel-lined cookie sheet to drain oil.
Place zucchini and squash rounds into plastic container and drizzle red wine vinegar over. Seal container.
Refrigerate for at least one day, occasionally turning or shaking the container to distribute the vinegar throughout.
Before serving, taste for salt and add freshly ground black pepper.
Chop up mint and basil. If you want a decorative presentation, you can alternate the yellow and green coins in a design of your choosing on a large plate and sprinkle the herbs over right before serving. Or you can just toss the zucchini and squash with the herbs and serve in a bowl.