Yes, it is quite easy. Before you remove the object, record its velocity (use phent_getangvelocity). Then fire it up again:
phcon_setmotor(constraint2, vector(spinner_vel,100,0),nullvector,nullvector); //if this spinner is replacing one that went out of bounds, it should start moving like the old one
The second parameter is the important one. spinner_vel is the target angular velocity, and the next number, "100," is an amount of torque high enough for the oject to reach that target velocity within one frame (you might need to set this number higher depending on your situation). You can't set it too high, but if it is too low it won't start rotating at the target velocity.