whenever i come off of a burnout or from going fast to a stop my oil light will flash and my car will idle very low...then if i tap the gas a few times it will idle normal again and the light will come off....1987...305 4bbl

Oil is moving away from Pick-up during braking.
Oil level may be a bit low, pick-up may be in wrong position, pan may require baffeling to stop movement at worse.
Some people add a extra 1/2~1 qrt of oil during races to help prevent this until they do interior work to control oil - works sometimes ...