'Dogg Pound 4 Life' Movie Hits Wall ... Suge Knight & Labels Want a Cut

EXCLUSIVE

"Dogg Pound 4 Life" -- the biopic based on TupacSnoop Dogg and Tha Dogg Pound -- is in jeopardy because Suge Knight and others want to cash in on the project, but Daz Dillinger ain't having it.

The DPG vet who's spearheading the movie broke the bad news to us at LAX. The casting and script are humming along, but Daz says the hangup is maybe the most important part -- the music!

You can tell Daz is PISSED -- he drops a few profanities -- because several parties, including Suge, are trying to block him from using his music in the flick. He insists he owns the rights, and he's ready to fight for them.

"Dogg Pound 4 Life" would pick up where "Straight Outta Compton" left off ... focusing on the rise of Death Row Records, which got folded into eOne Music when Suge had to sell.

Daz makes it sound like sharks are in the water and they smell blood -- and by blood we mean box office profits.