I would also check fuel pressure. you might have a bad fuel pump. if you dont have a fuel pressure gauge you can rent one from the autoparts store. and yes a flashing SES light means you have a lot of random misfires and you should not keep stepping on the car. also make sure you are running 91 octane or higher. make sure your wife knows that this car has to run on 91 or higher and 87 or 89 will damage the engine.

so:
Plugs
Wires
check for vac leaks
check fuel pressure