The problem only requires a description of the machine.
I was thinking for each a you need to find 1 + 2k b's where k is the a your on. (ie for the for the first a find 1 bs, the second find 3 bs, fourth find 5 bs, etc). Obviously this is not the way to do it since you need to have difference cycles for each number of a's.
Suppose that the input is indeed of the form $a^nb^m$ (without knowing that $n^2=m$). Let us take as alphabet for the machine $\Sigma = \{a,\overline a, b\}$. The following machine decides $L$, with the hypothesis that the input consists of a run of $a$'s followed by a run of $b$'s:
Assuming the input is $a^nb^m$, the machine tapes will look like the following:
When rewinding up to the first character that is not $\overline a$, we hit a $b$, so that the checking stage begins. At that point, the machine accepts iff the auxiliary tape and $b^m$ match, i.e., iff we have $m=n^2$.
So this machine works with the hypothesis that the input is indeed of the form $a^nb^m$. It remains to describe a machine that checks whether this is indeed the case, but this is clear enough (even a deterministic finite automaton can do it, no need to use the tapes). Once you have described this automaton, you can couple the two transition functions to obtain a machine that decides $L$.