You imply that the problem went away after adding two quarts of oil. That could suggest a problem with the oil pump pickup tube. If it is loose at the pump or cracked it could be allowing air to enter - adding the oil covered the area preventing air from entering. To check I would drain the oil to the add mark on the dip stick and verify the problem returns, than add oil to verify the problem goes away. In addition verify that the dip stick reading correlates with the correct fill amount per the manual.
Assuming your in dash oil pressure gage is electric it depends on a voltage regulator to supply a controlled voltage to it and the other dash instruments. A problem with this regulator or your charging system/battery could be causing the gage to read low at idle.
The warning light is just that a "warning", typically set very low indicating near zero oil pressure.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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