Neal Schon & Michaele Salahi -- Million-$$$ Engagement Ring Shipped in Armored Truck

Neal Schon dropped more than a MILLION bucks on his massive engagement ring for Michaele Salahi, TMZ has learned -- and he was so nervous about it getting stolen ... he had it transported to him via ARMORED VEHICLE.

Sources close to the newly engaged couple tell us, the armored Dunbar truck dropped off the 11.42 carat diamond ring at the Baltimore hotel where Neal was staying, shortly before he popped the question last night.

Our sources wouldn't divulge the exact price of the ring -- but said it cost more than $1 million.

As we reported, Schon asked Michaele to marry him on stage last night at a benefit concert for the Johns Hopkins Kimmel Cancer Center -- and shocker, Michaele said yes.

Mazel tov, you rich bastards.