Oil Pressure light comes ON, only when idling

You could buy one of these, change it out, and hope for the best if you don’t want to have an oil pressure test done. This is an easy cheap swap.

http://www.autozone.com/autozone/catalog/parts/partsProduct.jsp?itemIdentifier=123869_0_0_4316%2C5835&skuDescription=Duralast+/+Oil+Pressure+Switch&brandName=Duralast&displayName=Oil+Pressure+Switch&categoryNValue=&sortType=&store=505&isSearchByPartNumber=&fromWhere=&fromString=&counter=1&itemId=134-0&navValue=15300134&filterByKeyWord=&productId=123869&searchText=&categoryDisplayName=External+Engine&parentId=53-0

If the light still flashes on after this then the crankshaft bearings are probably worn out and this means a new engine. As a stop gap measure increase the viscosity of the engine oil; meaning a heavier weight oil.