More info needed n model age miles etc. it's not happening because you are low on oil. If it comes on more than a few seconds you must stop or you'll kill the engine.
Replace the sensor first, or if you have the cash, have oil pressure tested.
I'll bet it happened when you went around a curve, mine does that sometimes. You might as well spend a couple bucks and top it off, better safe than sorry.
No, your oil pump might burst into flames
My engine oil pressure light came on while driving and went off in a matter of a second, I checked it and it was halfway in the safe area of the dipstick, could the sensor be messing up or what