Ex-NBA Player Terrence Jones in Insane Hoops Fight, Nut Shots and Dancing

It looked more like a WWE match than a basketball game ... and ex-NBA player Terrence Jones was at the center of it -- trading nut shots, vicious clothesline fouls and dance moves(!!) in one of the craziest on-court altercations of all time.

The ex-Kentucky Wildcats star -- who played for the Rockets and several other teams in the NBA -- now plays in the Philippine Basketball Association's TNT KaTropa ... and got into it with Calvin "The Beast" Abueva of the Phoenix Pulse in a game over the weekend.

It all started when Abueva knocked Jones down with about 7 minutes left in the game ... and TJ retaliated with a shot to the family jewels.

While Abueva recovered, Jones celebrated as Yung Joc's "It's Goin Down" played over the PA system (seriously, everything about this video is perfect).

Of course, a dude with a nickname like "The Beast" isn't gonna just let that slide ... so he retaliated with a clothesline on Jones after grabbing a rebound.

And, what did Abueva do right after??? He danced his face off.

The Beast was suspended indefinitely and fined 50,000 pesos (about $1k) for the hit ... and Jones was fined a total of 70,000 pesos for the whole altercation.