It appears you aren't alone. A similar question was submitted to MedHelp (link below) and the doctor replied that he didn't know the cause. I've known a number of females that have had what they described as "visual disturbances" on a monthly cycle over a period of years that happened when they went out in bright sunlight. They usually had a severe headache with it. Some were so intense they were afraid to drive an automobile. Other than that, none seemed to suffer any long term effects from it. Considering that it happens on a monthly cycle, it could be hormone related in some way. You may want to see an ophthalmologist to be sure.
http://www.medhelp.org/posts/Eye-Care/Red-flashes-in-eyes-when-blinking/show/1083446