01 Expedtion Oil Pressure Sensor????

I have an 01 Expedition with a 5.4l 330 CI. when it was cold the other night (12 degrees) I started it up and the OIL LIGHT AND GUAGE went haywire. The light came on the oil pressure guage went to nothing. Did this 3 times in a 4 minute period then was fine. I took it to Ford, they said its the oil pressure sensor. I have noticed many names for this little bugger. Oil sensor switch, oil sending unit, oil pressure switch etc. etc. etc.

My question is.... since I have a guage and a dummy light do I have more than one (therefore the different names)? They both went haywire at the same time leading me to believe they are one in the same. I have located it, I think. According to ford I should replace the "OIL PRESSURE SENSOR". In which it is located near the OIL FILTER???? Looks easy, just want to change the correct thing.

I have only owned this vehicle 2 weeks and it did it that one cold night, has not done it since then, in case there are other ideas floating around out there.