The meaning of BIOS "beep codes" can definitely be helpful, but they vary depending on the BIOS' maker. Is your BIOS an AMI, Award, Phoenix, or other?
The beep code pattern you describe does seem to have some common reference among the major BIOS makers though- it appears to point to a memory problem, and more specifically to an area of memory possibly reserved for used by the video card. Because the BIOS runs its device checks and initializations well before Windows even starts up, it would be more likely that a video card driver issue is the symptom of a lower-level problem, rather than the cause.
The first recommendation is to open your chassis and check your physical memory modules. A short description from another site:
" First check your SIMM's. Reseat them and reboot. If this doesn't do it, the memory chips may be bad. You can try switching the first and second banks memory chips. First banks are the memory banks that your CPU finds its first 64K of base memory in. You'll need to consult your manual to see which bank is first. If all your memory tests good, you probably need to buy another motherboard. "