Pulsing/ Chaser Emissive Material

Man, I’ve been looking for this kind of thing for ages, A question though, is something similar timing possible with point lights though a blueprint or a matinee? I remember when I was working on the TARDIS in UE3 and I could never quite figure out how to get the lights and material timed up properly.
(here is a video of said TARDIS in UE3 for those interested: UDK 2014 Capaldi TARDIS Console Room Beta 1.9 Texture and Sequence Update - YouTube )