According to Woodhouse and my local dealer, malfunction of this system is a very common problem and not just on Vipers. It can be from one or more sensors at the wheels being bad. This can be tested by letting some air out of each tire, one at a time of course, and then driving the car very carefully for about half a mile and seeing if any do not go to the next phase of warning. (First phase - light. Next phase blinking light and chime. Read your owner's manual)If it does not go to the next level of warning, the sensor may be bad. Have the sensor replaced and calibrated with the donut shaped magnet device at the dealer. If this does not work, the module is probably bad. If both do not work, something must be crosswired or shorted somewhere. Good luck. Please report back on what happens.
Bob