Throwing the ball deep with less than two minutes in the half in a close game is EXACTLY what defensive coordinators in this league don't allow you to do (unless, of course, you're a DC with a staggering drunk at safety, like the Panthers).
With three timeouts and 1:50, you throw underneath and work your way down the field 10-15 yards at a time (hopefully getting out-of-bounds on some of those plays and stopping the clock), all the while hoping one of those underneath throws will break loose for a larger gain.
You'd be screaming at Cam through the TV if he was throwing deep into coverage designed to prevent the deep throws.
Your right, I wouldnt want Cam to throw it deep with 1:50 left. But with time winding down I would like to see more aggressive calls within the last min to at least make the corners line up deeper. We have a talented offense, just horrible play calling within 2 min.