A flashing MIL on an OBDII ('96 and newer) vehicle means only 1 thing and that is a catalyst damaging misfire. Part of the catalytic converter's job is to "burn off" any unburnt fuel and carbon monoxide that makes it through the engine. If you have a misfire it will try to burn off too much unburnt fuel, overheat, melt down internally, and plug up.
Your misfire is because something ignition related got wet. You need to dry out everything ignition related such as coils, plug wires, etc. Being an '04 it might be water down in the tubes that the spark plugs are in.
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