My ps3 has a red blinking light? How do I fix it?

Read this:

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

PS3 Red/Yellow Light

If you are seeing this error it is because the GPU and the CPU have overheated and you will need to stop the heat to fix this. You can send the console in and they will fix it for you but it does take about 4 weeks to fix.

You can quite easily fix this with a few household tiems from home.

Check out this link for a full solution:

PS3 Red Lights Fix

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

PS3 flashing is not hard to fix. Do you want to fix it by yourself instead of pay $150 checking to Sony? Here's the solution :
PS3 Red Light Fixing Guide

These articles might be of use to you.

Red Flashing Light

PS3 Red Light Fix

PS3 Blinking Red Light Problem

PS3 Red Light Of Death

Playstation 3 Repair Guide

These articles might be of use to you.

<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>

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

Here is a link to fix your self
http://www.fixya.com/support/r3643916-ps3_playstation_3_yellow_light_death