Coinflips

This may seem like a bizarre post, but I've been thinking about my SnG game, and I frequently find myself in a position to be pursuing or calling likely coinflip situations.

My question is, what are the conditions under which you pursue coinflips (small PP against likely overcards, etc)?

Only when short-stacked? Against short stacks? Different times of the game? Against different types of opponents?

Really could go anywhere with this.

As always, thanks in advance for any comments.

Hope all is well!
Anthony