Car experiencing a sputtering when excellerating. Noticed it was getting hotter when I would excellerate and the needle would drop back down when my foot was off the excellerater. Also the oil light started blinking on and off. Checked and the oil registers fine.

This really sounds like you have a leaky head gasket or worse, a cracked water jacket. You may be getting coolant into your crankcase, which would "water down", so to speak, your oil and cause you to lose oil pressure. I do not know what you mean by your "oil registering fine". I presume you mean the level on the dipstick. Do you keep losing coolant? Is there any brown/white milky sludge under your oil cap or on your dipstick? If so, you most likey would have a head gasket leak.