Yes I had the same problem this past Thursday! I was about to put my car on the track and I gave it a bit of throttle and my motor was glitching. So I took it back to the pits and my car smelled funny. I tried to give it more throttle and poof a big stream of smoke came out. I have the same blinking lights that you have. I am going to send it in for repair because I assume it's toast
. I put my GTB back in. This was only my second weekend with it!