A lot depends on the circumstances. Some of those lights will be ABS / ESC / Traction Control and the like - because when drifting, the front and rear wheels will be turning at such different speeds and for so long, that the ECU wil lthink there's a fault. They'll probably clear themselves on the way home. Others might be because it's cooking its transmission fluid / engine oil, etc. Again, they might go out when it cools. It's not just the fact that it's been thrashed, I imagine the ambient temperature is quite high too. In general, car manufacturers test their cars FAR harder than we ever do. A good thrash now and again is positively beneficial. Often, the cars that have most faults are those that have been driven very gently and end up with sooted-up inlet manifolds and choked EGR valves. As long as the engine oil is good and regularl ychanged, and it doesn't overheat, I wouldn't be too worried about running one at or close to max power for several minutes at a time.