Dustin Hoffman -- I'm Holding a WAKE for My Dead TV Show

First step is denial ... then anger ... then comes the AFTER PARTY ... at least , that's how the big shots behind "Luck" are grieving the death of their show.

TMZ has learned "Luck" star Dustin Hoffman ... along with director Michael Mann and executive producer David Milch are throwing a "wake" at a fancy Hollywood restaurant tonight to thank the cast and crew for "all the beautiful work."

As we previously reported, HBO decided to cancel the show this week after a 3rd horse died on the set.