There are 2 things that can cause this. The first is the power board. Check the power board for buldged caps. The other problem it could be is the main board.
What is happening is that the tv is going into shut down or safty mode so that it does not damage any other parts. I would say it's the caps on power board but still a small chance of it being thhe main boad.
Count how many times it flashes red and look up the blinking codes for that tv and it will tell you what is wrong if it has a blinking code guide for this tv.
flyatyou66, April 2014