Michael Jordan -- Sippin' $4,000 Tequila ... In Nightclub Turn Up

Michael Jordan hit the club in San Diego this weekend ... dancing his face off and sipping VERY expensive tequila ... and TMZ Sports has the footage.

MJ and his wife -- along with NFL star Dwight Freeney -- rolled up to Parq Restaurant & Nightclub on Saturday night where he got his own private VIP area ... with security watching his back the whole time.

We're told Jordan was drinking a bottle of Clase Azul Ultra tequila ... which runs roughly $4,000-a-pop inside the club ... because he's frickin' Michael Jordan and money is absolutely no object.

At one point, he grabbed a flashlight and started messing with one of his friends while dancing to Big Sean's "Blessings."