You cannot blink for every attack, a blink takes no time. Closing your eyes for an attack would let you use your blind fight feat instead of having to deal with the miss chance for displacement. Since closing your eyes is not a listed action we have to simply rest on a ruling by the GM.
As far as how the fight looks that is dificult to convey in a game that abstracts reality. It doesn't make sense to have your eyes closed for six seconds and expect to be able to dodge an incoming arrow. Think of it like a race, if one person gets the initiative and runs 120 feet, he doesn't then stop and stand still for 6 seconds while the next person runs 120 feet.
A wizard did it.
Also, this is why I said discussing that topic leads to madness.