I would make the assumption that "Weapon Creator" would be your best friend in a case like this.
After all, the model is already there (included with FPSC), it's simply that you need the ease to get the model in there, as well as the ability of the crosshair--and it's that simple, the crosshair, as I think has been stated, is all you need. That said, it's really a "faux flashlight", because it won't actually help you see in pitch black.
Basically, you make a semi-transparent, yellow *.tga, and then use that as the crosshair. It won't light up the dark, but if there's enough light there, it will give the illusion of that.
Didn't Conjured have some form of flashlight? Maybe I'm wrong, but I seem to remember some form of "beam" being in the "Hunt for Osama".
Evil has a new name. Demo out now!