Edit in JSFiddle

function blink(btn) {
    blink1(btn);
}
function blink1(btn1) {
    //document.getElementById(btn1).className = ;
    btn1.removeClass();
    btn1.addClass("highlight");
    setTimeout(function () { blink2(btn1); }, 750);
}

function blink2(btn2) {
    //document.getElementById(btn2).className = "highlighted";
    btn2.removeClass();
    btn2.addClass("highlighted");
    setTimeout(function () { blink1(btn2); }, 750);
}

blink($('#btn'));

.highlight 
{       
    border: 3px solid #FBB72D;
    font-weight: bold;
    border-radius: 5px;
}

.highlighted 
{       
    border: 3px solid #000000;
    font-weight: bold;
    border-radius: 5px;
}
	

<input type="submit" value="Blink Click Me" id="btn"/>