Chris Brown Arrested for Felony Assault with a Deadly Weapon

3:30 AM PT -- Brown has been booked and released after posting bail.

Chris Brown has been arrested for assault with a deadly weapon ... a felony.

TMZ broke the story ... Brown allegedly pulled a gun on a guest at his home early Tuesday morning after an argument ... she claims over jewelry.

Baylee Curran filed a police report and cops obtained a search warrant. As we reported, while Chris was holed up in his house, he threw a duffel bag out his window that contained 2 guns and drugs.

Brown will be taken to the police station for processing.