I have a 2006 Escape and had the same problem. Turned out to be a cracked ABS Tone Ring.
A "Blinking" light typically means that something SEROUS has been detected. Use a code scanner to detect the problem.
From the owner's manual of the 2005 Ford Escape: "If the light is blinking, engine misfire is occurring which could damage your catalytic converter. Drive in a moderate fashion (avoid heavy acceleration and deceleration) and have your vehicle serviced immediately."
I found the answer here: http://www.ford-forums.com/ford-escape/4530-ford-escape-air-bag-warning-light.html It worked on my Mazda Tribute - I checked the connections under the front seats.
The 2006 Ford Escape has 16 valves.
The 2006 Ford Escape is a gas-powered vehicle.
The 2006 Ford Escape has a 5-speed manual.
The 2006 Ford Escape has an inline 4 engine.
The 2006 Ford Escape has a 20.4 degrees angle of approach.
The height of the 2006 Ford Escape is 5 ft. 9.7 in. (69.7 in.).
The 2006 Ford Escape runs on regular unleaded.
The 2006 Ford Escape is 14 ft. 6.9 in. (174.9 in.) long.
The 2006 Ford Escape has double overhead cam (DOHC).