I know planes usually fly with red lights which seem small in the sky, but last night i saw a bright orange blinking light traveling through the sky; it was bigger then a star but was orange. I thought it might be a helicopter, although I read it could have been a comet or a meteor.
While normally red in colour, anti collision lights can often appear more or less orange, depending on the background and atmospheric conditions. It is impossible to determine the aircraft type just based on the fact that it has a orange light on it, since almost all aircraft have reddish orange anti collision lights.
Others have mentioned red anti-collision beacons that might look orange in certain environmental conditions, but there's only one kind of aircraft that shows an intermittent orange light: balloons. The flame used to heat the balloon is orange, and most balloons are translucent enough that the whole balloon can appear orange when the flame is lit.
There wouldn't be a blinking orange light, but the flame is often used in short bursts to keep the balloon inflated, so it would be intermittent. Balloons don't move very fast, so if it was really "travelling across the sky" as you describe, perhaps this isn't the answer.
A meteor (which you've already guessed at) moves a lot faster, but tends to glow orange or white for a few seconds and then disappear: I don't think I've ever seen a blinking one.