I connect the track power to rectifiers from Evans, which I then connect to edgelec 12v blinking red LEDs. These work well with a single blinking LED.
I'm modifying a 6517 caboose, and it does have a plastic rod to take the light from the original incandescent bulb to the little nibs that go through a hole in the side of the car to the exterior lanterns. I was thinking I could get the red blinking light to use that rod after I take most of the plastic frame out, remove the incandescent, and then put in the overhead warm white LED strip, along with GRJs LED lighting regulator to eliminate flicker.