I cannot find any info on the given model number.
Tried here, Whirlpool and Sears with no luck.

Please check it.
Are you sure that the 8 is an 8 and not a B?

Here are your parts
Parts for Whirlpool RF350BXEW0 Range - AppliancePartsPros.com

See the attachment for the tech sheet.

Looks like the flashing light is a heating problem.

Try unplugging the unit for a few minutes to see if the error will clear itself.

If this does nothing.

They also say it could be a bad control board which looking in the parts may be obsolete.

I would unplug the unit and check the elements.
They do not list a ressitance so I will guess that they are in the 20 to 30 ohms range.

I would also check the oven sensor.
Below is a link on how to do this, look at 7, 8, 20 and 21.
http://www.applianceaid.com/ele...-range-repair-topics.php

If all OK then odds are high that it is the board.
Check that the connector for the oven sensor on the board is OK.
Look for a loose leg on the solder side of the board by gently wiggling the connector and watching for any movement of the connector leg in the solder.
Check for a cold solder joint to one of the connections. Cold solder joints are often a dull er silver color and/or may have pin holes.
A magnifying glass comes in handy here.

If all OK and the board is obsolete, there are companies out there that repair old boards just Google "appliance timer repair".
Of course it may not be worth fixing buit that is a decision only you can make.