WARNING: This video contains VERY explicit language.
During the 12 minute clip, Perez says the whole thing started after a confrontation with Fergie at an award show after-party. Perez claims Fergie came up to him and asked why he trashed her on his website.
Hilton claims they eventually went their separate ways, but later in the night, Will.I.Am -- Fergie's bandmate -- saw Hilton and came at him "like a heat seeking missile," demanding Hilton stop writing about Fergie and his band on his PerezHilton.com.
Hilton claims Will and his manager, Polo, followed him outside the club -- and then Polo punched him in the head "2 or 3 times."
Hilton claims when he got hit, he thought to himself, "I think my eye might be falling out of my head."
Perez added this parting shot to Will, "God knows it was not a random fan that hit me ... you a re a f**king liar."
Minutes earlier Will I. Am released his own video message, claiming he didn't beat Perez.