Could it become 瞬【まばた】いている? Why is there 瞬きする instead of 瞬く? And why is there a は at the end?
Sentence from the song キラキラ星【ぼし】:
きらきらひかる おそらのほしよ
まばたきしては みんなをみてる
きらきらひかる おそらのほしよ
「[瞬]{まばた}く」 is a fairly "big" word and it would sound too heavy or literary to use in a children's song. The more common and intuitive word choice for native speakers would be 「瞬き(を)する」 not only for children but also for adults as well.
「まばたきしては みんなをみてる」 is in the structure:
「A(を)してはB(を)する」= "to do A and B alternately"
= "(The stars) keep blinking and looking at us all."
See Definition #3 here: http://dictionary.goo.ne.jp/leaf/jn2/152199/m0u/
「は」 is part of the expression and it cannot be omitted.