Code

Two blinking lights controlled by one POT

/*
 * AnalogInput
 * by DojoDave <http://www.0j0.org>
 *
 * Turns on and off a light emitting diode(LED) connected to digital 
 * pin 13. The amount of time the LED will be on and off depends on
 * the value obtained by analogRead(). In the easiest case we connect
 * a potentiometer to analog pin 2.
 *
 * http://www.arduino.cc/en/Tutorial/AnalogInput
 *
 * Simple Modification to run TWO, yes TWO blinking LEDs
 * by n8agrin.
 */

int potPin = 2;    // select the input pin for the potentiometer
int bluePin = 11;   // select the pin for the LED
int greenPin = 10;
int val = 0;       // variable to store the value coming from the sensor
void setup() {
  pinMode(bluePin, OUTPUT);  // declare the ledPin as an OUTPUT
  pinMode(greenPin, OUTPUT);
}
void loop() {
  val = analogRead(potPin);    // read the value from the sensor
  digitalWrite(bluePin, LOW);  // turn the ledPin on
  digitalWrite(greenPin, HIGH);  // turn the ledPin on
  delay(val);                  // stop the program for some time
  digitalWrite(bluePin, HIGH);   // turn the ledPin off
  digitalWrite(greenPin, LOW);
  delay(val);                  // stop the program for some time
}

 Two POTs, one controls brightness, the other blinking

/*
 * one pot fades one led
 * modified version of AnalogInput
 * by DojoDave <http://www.0j0.org>
 * http://www.arduino.cc/en/Tutorial/AnalogInput
 */
int brightnessPotPin   = 2;   // select the input pin for the potentiometer
int blinkPotPin    = 3;

int greenPin = 9;   // select the pin for the LED
int bluePin  = 10;
int redPin   = 11;

int brightness = 0;      // variable to store the value coming from the sensor
int blink = 0;

void setup() {
  Serial.begin(9600);
}
void loop() {
  brightness = analogRead(brightnessPotPin);    // read the value from the sensor, between 0 - 1024
  blink = analogRead(blinkPotPin);
 
  Serial.println(brightness);
  Serial.println(blink);
 
  analogWrite(greenPin, brightness/4); // analogWrite can be between 0-255
  analogWrite(bluePin, brightness/4);
  analogWrite(redPin, brightness/4);
 
  if (blink > 1) { //added this to elminate some weird blinking artifacts
    delay(blink);
    analogWrite(greenPin, 0);
    analogWrite(bluePin, 0);
    analogWrite(redPin, 0);
    delay(blink);
  }
}