Occasional Oil Pressure Light for 2-3 seconds in my 318. Should I panic?

Imagine the oil pan squashing up against the pickup opening significantly reducing the opening size, will absolutely affect discharge pressure. Also have seen debris clog up the screen causing low oil pressure.

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There is ZERO way that can happen. The pickup is designed to be touching the bottom of the pan. Not "squashed" against it, but touching it. You see that HUGE hole into the pickup? It's made intentionally like that so that the pickup can rest against the pan bottom. The reason for this is so that when accelerating or on decel, the pickup will have a constant supply of oil. Were it not all the way on the bottom of the pan, it might get subjected to air as the oil runs to one end or the other of the pan. It's in just about every single Chrysler service manual to place the pickup against the bottom of the pan, but I guess you're somehow self professing to know more than Chrysler engineers.