If you want to edit lights go into the editor and select an object and click "edit", then go to lights, and there you go. Edit the lights the way you want.I know it's there! I just don't know how to make the lights blink and change there color on the car. Can you tell me?
As for skins, you're probably going to need a tutorial for that. I unfortunatly couldn't find one but just search for skin tutorials or in the fourms. (btw: Xplorer probably has some good links)