SHOTS FIRED AT CHAD OCHOCINCO ... and the woman pulling the trigger is his ex-wife Evelyn Lozada!!!
The "Basketball Wives" star -- who happens to be engaged to L.A. Dodgers superstar Carl Crawford -- was hangin' at GNC at the Beverly Center ... when we asked to see the massive 14.5 carat diamond ring he gave her back in December.
That's when Evelyn flashed the ring ... and a little bit of sass ... taking aim at the puny 10 carat rock Chad gave her back in 2010.
Check out the clip ... enjoy the burn.