Did you replace the distributor with a factory OEM part or did you go to your local parts house?
If you did the latter that's not good, aftermarket rebuilt distributors are junk.
A blinking check engine light means that there is a missfire condition happening that can and will damage the catylitic converters , those are almost 800$ bucks each from the dealer.
So until your get this figured out I'd be parking it unless you got 1600 bucks for new cat's.