With the increase of the number and geographic dispersion of distributed energy resources (DERs), the microgrid (MG) has become scattered along with the higher complexity of control and communication. This paper proposes a two-level regulation strategy to achieve the local objective of frequency regulation and power sharing as well as the global objective of economic operation in the real time for the scattered MG. Firstly, the MG integrated with multiple DERs is partitioned into several nanogrids (NGs) such that DERs connecting on the same feeder are grouped in the same NG for the efficient and cost-effective communication and control. Then in the NG level, the total power mismatch of the entire MG can be learned and an optimal incremental cost can be agreed by each NG through the fastest distributed linear averaging (FDLA) and discrete-consensus algorithm, respectively. In the DER level, a cost-driven droop gain is developed to indicate the willingness of each DER in the NG to participate into the frequency regulation service. The pinning-based protocol is formulated to regulate the frequency and meanwhile enable the proportional power sharing among DERs based on the economic droop function. Case studies satisfactorily demonstrate the effectiveness of the proposed regulation strategy for the economic frequency regulation in the tested MG.