If you have an oil cooler, it's possible that the lines have become rusted and are leaking.
The year, make and model would help.
tranmission is in a bind and not letting it bring it out
more than likely a wheel bearing
No, it is not supposed to blink. You have a problem. Seek out a professional.
The 2008 Chevrolet Suburban has rear wheel drive.
The 2012 Chevrolet Suburban has rear wheel drive.
The 2011 Chevrolet Suburban has rear wheel drive.
The 2006 Chevrolet Suburban has rear wheel drive.
The 2009 Chevrolet Suburban has rear wheel drive.
The 2010 Chevrolet Suburban has rear wheel drive.
The 2014 Chevrolet Suburban has rear wheel drive.
The 2001 Chevrolet Suburban has rear wheel drive.