Hi Andrea.
What your experiencing is the the well known "PS3 Red/Green Light of death" which generally means a hardware failure or overheating. If it's overheating (2 Red lights) then it will automatically shut down after a while but from what your saying it's not overheating.
If you have it in warranty you have to send it to Microsoft and they will send it back usually 3-4 weeks or take it to a reputable gaming console repair shop (this will cost money).
But first check that your AV cable is properly plugged in (in this case all four RED lights are bleeping). If you're using an HDMI connection forget about this step.
So if you don't have a warranty then it will cost you about $150.
Another thing you can do is follow a guide and repair all of the errors with the PS3 including your problem. Click here for more information.
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