Jalen Rose -- Terrell Owens Is Crazy ... He Can't Beat Michael Jordan One-on-One!

Jalen Rose and Terrell Owens are boys ... but the former NBA star thinks T.O. is straight up NUTS for thinking he can beat Michael Jordan in a game of one-on-one.

As TMZ Sports first reported, T.O. talked all kinds of smack earlier this week ... saying he would destroy MJ on the court.

But when we asked Jalen about it last night at LAX, he didn't hesitate for a second ... saying MJ could take a 20-year break from basketball and STILL school Owens on the court. Jalen said even he would take T.O. to the hole.

Be sure to watch the end of the video for Jalen's March Madness picks. Conspicuously absent ... his alma mater Michigan.