I think more along the lines that your alternator is going bad.
There are regulator rebuild kits avaiable (Pep boys offered me one instread of an alternator) but, usually its better to jsut replace the whole thing.
But yes, battery light is a good sign of either a lose ground wire, or a bad alternator....ahve a test run, i know some places like kragens or autozone do free alternator testing.
Lupe