Miss Cali's Fate -- The Final Countdown

In less than two hours, Donald Trump will get to play God with the life of a beauty pageant -- and TMZ will be there to livestream the entire -- guaranteed to be overdramatic -- press conference.

Will The Almighty Donald be merciful ... again ... and spare Carrie Prejean -- or will the cold-hearted Trump show up and fire her ass back to kingdom come?!

Tick ... tick ... tick ...