my pi 3b+ has a red light for power, and green light is for data access.
so i believe your pi 2 should be the same...
when power is not enough the red light will either flicker or stay off and the pi will shutdown from the lack of power and try to boot again, this will happen in a loop so corruption to the sd card will probably happen..
you can't fry a pi from lack of amps, you can fry it from high voltage or a bad charger..
try a good branded charger, the official pi website recomends a 5.1 volts 2.5 amps.
a 5volts 1amp usb port seems to boot my pi just fine (however trying to watch a video or putting a load the red light will dim and the video outputs a lightning bolt icon)
the green light flickering is normal because its trying to access the sd card (read the printing in the board, it says there ACT, activity)
the pi only supports fat32 booting, so maybe ya trying a huge sd card with exfat?
send me a pm or create a propper thread if ya want more help.