The Blink Cloak ability is only available on the Smuggler's Falcon (Rebel starship). It causes the starship to be cloaked for a single turn, before needing a turn to recharge. Likely as a consequence of this weakness, this ability does not allow Priority Intercept Attacks.
The ability can be activated via the Cloak mission. The mission is unavailable if the ability needs to recharge.
See also Out of Fuel ,