I wrote this while eating so if it doesn't do what you want blame the pickle :)

use strict;

use Win32;
use Win32::Console::ANSI;
use Term::ANSIColor;
my $data = {
                    1 => 'bold blue',
                    2 => 'bold blink yellow',
                    3 => 'blink red',
                    4 => 'blink white',
                    5 => 'blink green',
                    6 => 'blink cyan',
                    7 => 'rapid blink magenta',
                    8 => 'blink grey',
                 };
print "\n";
for (1..100)
{
  print colored ("*",$data->{(rand(100)%6)+1});
  print "\r";
  sleep(1);
}
[download]

All I did was change your hash bit and add the sleep. To make it blink in place I printed a used the \r.

Update: Just to note that I kept the hash as I didn't know if you wanted to use that as a larger configuration variable (ie for more than just colours) outside this example code. If its just for these colours and nothing more then you can use an array and probably should. HTH