Saw a light moving so FAST then it began to dim before lighting up again and we saw it start flying in a tight S pattern

My wife and I went for a later than usual walk with our dog. Right before we were got home, my wife points out a light in the sky and asks me, “Is that a plane?”
I look up and see the bright light, and I start my process of elimination. I’ve many times looked up hoping to see something that wasn’t a satellite or airplane, but often to my own disappointment, I can quickly figure out when that’s the case. Then, the light begins to dim, so I think space debris, and then it lights up again, changing direction by around 45°. At this point I’m still thinking shooting star or something. Until it started to light and dim over and over and we see it flying in an S shaped path. My wife and I both noticed between its bright cycle would almost be a dim red/orange light.
Eventually it went past the horizon of the mountain and we lost sight of it.