Blinking lights (On airplane or spaceship)

I’m looking to create a blinking lights effect, similar to what airplanes have on the tip of their wings

like in this video:
example

i tried with lens flares, but i cannot make them small enough and still be bright
i was thinking of going with particles, but would that work?

Use an Unlit shader

One way to do it would be to fade the alpha of the material in your light, I think, or as this thread says: http://forum.unity3d.com/threads/195770-Blinking-Ship-Lights

“This can be done through a shader texture or you could use a normal light with a lens flare effect with a script that brightens / dims either of these.”

Thanks for the replies, i’ll try them out and see which one works best