Don't know if you're serious or not about the lung reference, but I thought lights were eyes?
I'm serious. I've heard them called that many times.
When I was growing, I was a butcher, and old black people would buy "liver and lights," which consisted of a pig's liver, lungs, and a few other attached pieces. They called the lungs "lights" because they are so light. They have a much, much lower density than liver.
I've never heard eyes called "lights," but they could be in some subcultures.