Evelyn Lozada --ENGAGED to Carl Crawford ... and My Ring's Bigger than Gabrielle Union's!

Evelyn Lozada got a helluva Christmas gift this morning from Dodgers star Carl Crawford ... a 14.5 carat DIAMOND ENGAGEMENT RING ... and sources tell TMZ the ring's worth $1.4 MILLION!!!

Crawford -- who's in the middle of a $142 million contract -- popped the question this morning ... and the "Basketball Wives" star said YES!

Just like Dwyane Wade, Crawford picked up the ring from go-to celebrity jeweler Jason of Beverly Hills.

For the record, the ring Wade gave to Gabrielle Union was ONLY 8.5 carats ... but size doesn't really matter, right???

Evelyn has been married before -- she tied the knot with Chad Johnson back in 2012 ... but divorced him later that year after the NFL star headbutted her during an argument. Before Johnson, she was engaged to NBA star Antoine Walker (but they never married).

As for her new man, she started dating Crawford earlier this year ... and Evelyn is 7 months pregnant with his child.

Congrats!