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I've seen that behavior when the batteries are a little weak. Not really likely if you have new batteries that are kept on a tender, but that is when I saw blinking.
How often? I have not data on this at all. But I'd speculate that they are like any electronics. The longer they are exposed to...
Here's a comprehensive look at things that could keep the HMMWV from starting.
https://gear-report.com/help-hmmwv-wont-start-humvee-glow-plug-start-system-maintenance
Sounds to me like you need to check each glow plug with an ohm meter...
If the wait light is cycling properly, then it likely...