1986 Other Suzuki Models Oil Pressure

I was just wondering if I could get a little help. The oil pressure light on my Samurai keeps coming on! The oil pump has been changed (it was brand-spankin' new!) And I've flushed the oil several times, thinking there might have been water in there somewhere. Every time the oil was flushed, it came out looking like eggnog (in colour, but was very thin in consistency). The oil makes it to the filter just fine but doesn't seem to circulate correctly (judging from the light on the dash). Once the engine even thinks about getting warm, the light comes on and it dies. Any suggestions? I've done a visual inspection of the whole motor and there doesn't seem to be any cracks or leaks anywhere. Any information that can help me get this bad boy back on the road would be greatly appreciated. Gas prices are too high to be running anything else!