percision timing ratio of multiple lights blinking with different durations and intervals
The most basic microcontroller will have all you need to generate the timing with no additional components - an internal oscillator, a timer which can be run from a scaled clock source, and enough memory for the simple logic to produce the signals.
 An ATtiny has an internal 8MHz clock, can run the timer at a 1/256 divider to give an 32us timebase that would allow the 16 bit timer to run a cycle up to 2 seconds, you'd then just need to pick on and off times for two outputs. Available in SOT23 package, as are PIC10s.