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The temperature light blinks when the coolant level is low, and the coolant you saw dripping... they both point toward a failed coolant overflow tank. I'd have it towed home (if you're a DIYer) or to a shop to have it checked out.
IIRC, replacing the tank isn't uber-difficult.
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2001 Boxster - Grey on Grey
1969 911T Targa - 'Stinky'
http://www.zoto.com/frayadjacent/img...f27a-4a399.jpg <---- my car. ^ crap I post.
"The existence of the flamethrower is evidence that someone, somewhere once said 'I want to set those people over there on fire, but I don't want to have to walk over there to do it.'"
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