I would recommend butter as an alternative, yet in limited quantities this should work.
There are higher chances of your cake sticking on the pan.
You need to do it with butter
Use a smooth bottomed cake pan and coat it lightly with flour at the bottom, Regular flour not self rising.
Coat With Oil, Then Heat
Cake can be removed from a jelly roll pan most easily if the pan is greased or sprayed with oil, then lined with parchment paper. Grease or spray the paper again before pouring in the cake batter.
wash pot/pan out. heat pot/pan on low, coat with oil. let cool, repeat if necessary :)
to make sure it doesn't stick to the pan
Yes, usually a tube cake pan is a good substitution for a fluted (Bundt) cake pan.
A pan spray isn't always necessary , especially in the case of coated pans ( Teflon , etc..). It is a good idea to coat it anyway , in order to minimize the risk of it sticking , especially with something like an upside down pineapple cake ! the sugars in many cakes can cause some sticking , even with a coated pan .
Chiffon cake texture is supposed to be light, spongy and fluffy rather than that greasy and dense compare to regular cake because it is not an oil-based cake. You don't need to make the pan greasy with unnecessary fat.
If a spring-form pan is not available, it may be possible in some cases to line a regular cake pan with parchment paper. Cut a circle to fit the bottom of the pan, and another strip long enough to extend over the sides of the pan. Grease or oil the pan, place the strip so the ends extend beyond the pan, then place the circle over the strip, covering the bottom of the pan. Brush the paper well with oil. After baking, loosen the sides of the cake by running a knife around the edges, then use the strips of paper to lift the cake out of the pan.
A suitable substitute for a bundt pan when baking a cake is a tube pan or a round cake pan with a similar capacity. These pans will help the cake bake evenly and maintain its shape.