How do I fix the blinking red lights on my xbox360?

The set has two common error codes: watch the red light blinking and count the sequence-----3 blinks is most common and is short protection--that one is fairly easy to fix---second most common is 5 blinks which means a short on the 140 volt line--that one is more complex to fix.

Which or neither?

Read this:

http://www.prlog.org/10506996-ps3-red-flashing-light-causes-and-solution-revive-your-ps3-by-fixing-red-lights-blinking-yourself.html

No picture or do u have a blue (or some other color) screen? And the blinking red light, is that the indicator light down by the power button that is blinking? I have the same tv and very similar problem, i have a blue screen and the red indicator light is blinking. If you have gotten ur problem fixed I would love to know how, or vise versa if I get mine fixed.

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PS3 show red light and blinks then turn off - Somebody have the same problem and a solution is here :
PS3 Red Light Blinking Fix

Hi,
If red light was not blinking before lamp replacement and after that it start blinking 3 times then pause for three seconds and again blink, check lamp cover that has not been fixed on tv or it is not fixed/ seated correctly there.
Lamp cover is first thing that you removed from tv to replace lamp.
Hope these info will help. If red light is blinking other than 3 times, let me know how many times it is blinking along with tv model number written at rear to provide you helpful info.
Thanks.

Try the tips in these articles, they may help :0

<a href="http://ezinearticles.com/?Have-You-Got-Issues-With-the-PS3-Red-Flashing-Light?-Fix-This-Problem-Today&id=3629324">PS3 Red Flashing Light</a>

<a href="http://ezinearticles.com/?PS3-Red-Light-Fix---Quick-Guide&id=3512073">PS3 Red Light Fix</a>

<a href="http://ezinearticles.com/?PS3-Blinking-Red-Light-Problem-Solved---If-You-Have-This-Problem,-You-Really-Need-to-Read-This&id=3512063">PS3 Blinking Red Light Problem</a>

<a href="http://ezinearticles.com/?PS3-Red-Light-of-Death---How-to-Fix-it-Quickly-and-Easily&id=3512067">PS3 Red Light OF Death</a>

<a href="http://ezinearticles.com/?Thinking-About-Buying-a-PlayStation-3-Repair-Guide?-Then-You-Better-Read-This-Before-You-Do!&id=3676847">Playstation 3 Repair Guide</a>

These articles could help fix your PS3 again.

<a href="http://ezinearticles.com/?Have-You-Got-Issues-With-the-PS3-Red-Flashing-Light?-Fix-This-Problem-Today&id=3629324">PS3 Red Flashing Light</a>

<a href="http://ezinearticles.com/?PS3-Red-Light-Fix---Quick-Guide&id=3512073">PS3 Red Light Fix</a>

<a href="http://ezinearticles.com/?PS3-Blinking-Red-Light-Problem-Solved---If-You-Have-This-Problem,-You-Really-Need-to-Read-This&id=3512063">PS3 Blinking Red Light Problem</a>

<a href="http://ezinearticles.com/?PS3-Red-Light-of-Death---How-to-Fix-it-Quickly-and-Easily&id=3512067">PS3 Red Light OF Death</a>

<a href="http://ezinearticles.com/?Thinking-About-Buying-a-PlayStation-3-Repair-Guide?-Then-You-Better-Read-This-Before-You-Do!&id=3676847">Playstation 3 Repair Guide</a>

how much

You can't fix it. There is a bad board in this set; either the main board or the power supply board. You'll have to call a professional.