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

I got out the tape measure and measured the sump to the rail on the pan then measured the bottom of the pick up to the pan rail. If it touched good. If there was a 1/4" gap, good as well. Not rocket science here. The pick up is submerged in a few inches of oil at rpm and the hole in the pick up is where it enters.