Unfortunately, I have temporarily lost my manual, but I do remember that
Toyota did do some odd things like fuse unrelated facilities from the same
fuse.

The flashing AC light is a warning that either refridgerant head-pressure
has gone too low (leak) or too high (insufficient cooling of the condensor
for example) Things like you have mentioned may well be the cause. Make sure
once you have restored power, that the AC fan operates with AC "on" and that
the condensor which sits in front of the radiator has clear airflow thru its
core and the radiator core. The real cause I suspect is low refridgerant
seeing the car is a '93. My '95 had a bad compressor (was making lots of
noise) and while it cost a fair bit to repair the end result is really good
AC which is relatively trouble -free.

Your electrical fault will be fuse(s) rather than a relay as relays are in
*each* facility, and thus are not likely to all fail together.
Quickly selecting and deselecting the AC can cause a blown fuse or fusible
link as the compressor clutch is a high-current inductive load (coil or
solenoid ). This kind of load can cause high current spikes if operated on
and off quickly which may have taken out a major common fuse or fusible link
which also supplies other things on the car.

A workshop manual for about $30 or so will provide circuit diagrams
indicating electrical distribution and protection.

Jason