Blink on notifications, missed calls, etc., possible?

I just got a iPhone 4S, and just spent the better part of the morning getting a custom ringtone to work. Seemed a bit complicated!

Anyway, is there a way to have it blink, and continue to blink every few seconds, upon receiving a text message, (missed) call, or other notifications?
It would be nice to know at a glance whether something has happened requiring my attention.
I found out how to make it light up upon receiving a call, which might be good for the deaf, but this isn't quite what I'm after.

Thanks!