Heat the oil in a large skillet over medium-high heat; fry the red chile peppers, urad dal, chana dal, and mustard seed in the hot oil. When the urad dal begins to brown, add the curry leaves and asafoetida powder; stir. Add the green chile peppers and continue cooking 1 minute more. Stir the cabbage and peas into the mixture; season with salt; cook and stir until the cabbage begins to wilt, but remains somewhat crunchy, about 10 minutes. Toss the coconut into the mixture and cook for 2 minutes more. Serve immediately.