Goes on when you start the car (70 Newport) and obviously goes off shortly after. But lately after a calm cruise it will flicker when I’m backing the car into garage.
If oil pressure were an issue, would that make it flicker? Or would the oil light just come on.
Let's assume you've checked your coolant level... You have done that? Right???
Since we are talking about the "HOT" light, and not the oil pressure light, it either has to be the engine running hot or the sender or wiring is faulty.
A lack of oil pressure for an extended time can cause overheating, but by then, you've caused some damage and the lifters would have started clattering etc. In other words, you are going down the wrong road with that cause.
So, back to the "Hot" light....
Really, the best way to diagnose this is with a temperature gauge. IMHO, these cars should have an oil pressure and a temperature gauge added. A voltmeter is nice too. I always suggest a good set of electrical gauges to compliment the existing idiot lights. They are easier to hook up than the mechanical style and will give you all the info you need.
If you don't want to do that, a hand held infrared thermometer can tell you a lot too.
But then again, it's just happening when you are backing the car into the garage. It could just be a shorted wire that is dragging against a shift linkage or something dumb like that. Easy enough to check the wiring. Start at the sender on the water pump and work your way back. See if there's any cuts or breaks in the insulation.