Check your oil level when the car has sat overnight on a level surface. If it is coming up as full it is fine, the sensor in the pain does fail and will go on and off (the yellow light). On the SRT-6 to replace it we have to drop the oil pan, im not doing that for a dumb sensor that I know is faulty.

My advice, check your oil level periodically and ignore it. If you cant, replace the oil unit in the pan to fix it.