Cooper aspire Z wave switches have a built-in “panic” mode which uses the Z wave “alarm” commandset and does this really well. See the following discussion thread (this is a clickable link)
Other people can discuss the issues if you want to combine a smart bulb and a smart switch, but it’s going to get complicated.
Hue bulbs on a Hue bridge have a very nice and simple blink option which you can get to through IFTTT or through webcore. But again, hue bulbs plus Smart Switch can get complicated.
If you like smart switches and you are buying new ones, I would definitely look at the Coopers. It’s a nice feature on that switch and there are community members who have already written the custom code that will be required. (See above.) 
For any other Z wave switch, again, look to see if it supports the “alarm” command set, that’s what will do this.
Most zigbee bulbs can do this, the trick is figuring how to get the command to them to do it. @Sticks18 can say more on that. But again, soon as you go to a smart bulb you open up that whole “what switch am I my going to use?” Issue.
While you can try to do it with any Switch or bulb via webcore sending multiple commands, I think the user experience for a very fast flash is going to be much rougher than if you have a switch or bulb that can accept a single alarm command.