Okay, resident “UFO nut” here
There has already been a lot of good discussion and proposed explanations (one of which I find promising) here, but I feel like I wouldn’t be doing my SDMB duty if I didn’t jump on the bandwagon. Let’s run through some of the typical UFO sighting explanations:
Airplane/Helicopter: Not likely. The duration of the sighting does not totally rule this out - I’ve seen planes coming straight toward me that appeared as stationary bright lights hanging in the air for 15-20 minutes before finally passing directly over me. So 45 minutes is on the outside of believable, but not ludicrous. What makes me dump this possibility is that the lights completely flashed on and off. Planes have flashing lights on them, but not all the lights flash and certainly not simultaneously and erratically.
Lights on the ground: Not very likely either (well, there’s a catch, but I’ll get to that in a minute). You specifically said that the lights were blinking erratically. This rules out a light on a building or tower (e. g., one of those lights to alert aircraft to the presence of a tall structure). If the lights were really above and beyond power lines, and there were no distant hills or anything that they could have come from, I think that closes this part of the case.
Balloon, blimp, etc: Once again, the erratic blinking behavior makes this questionable. Provided you are sure there was nothing (tree branches, thin clouds, etc.) that could have gotten between you and the objects, thereby making the lights appear to blink when they were simply being blocked, this possibility can more or less go in the circular file as well.
Stars, planets: This is easy to check. You say you have not been able to see any such objects in similar locations on subsequent nights. There are plenty of astronomical charts available online which will help you verify whether anything should be there. If not, this one goes, too.
Temperature inversion: This is the first mundane answer I thought of when I read your post. Astroboy14 explained this phenomenon well above, and I tend to agree with him. All sorts of erratic lights (cars on the highway, lights on buildings, etc.) exist on the ground, where they would normally not be visible at any distance. But a temperature inversion could conceivably project these lights into the sky, and perhaps play further havoc with their appearance so as to make them look very weird.
So, of all the non-X-Files explanations I can think of, I’d say the temperature inversion is the one that makes sense. You might want to do more research on this, though. I am not sure of the exact conditions under which your incident took place, nor am I sure of the exact conditions needed for a mirage-inducing temperature inversion. But if I were trying to get to the bottom of this, that’s where I’d start my research.
And I do encourage you to look into it further. In fact, I’m probably more amenable to oddball theories than most people here. I’m certainly not trying to play Donald Menzel and tell you to accept any explanation without verifying that it really fits with the facts. In my opinion, that’s just as bad as assuming it was the Venusians coming to get you 
-Andrew L