Mike Tyson -- My Cocaine-Fueled Orgy ... Was Foiled By Cops

Nothing deflates a cocaine-fueled hard-on like a visit from your probation officer mid-orgy ... this according to Mike Tyson, who speaks from experience.

Iron Mike went on "Jimmy Kimmel Live" last night ... and talked about one crazy night he was high and having group sex while on probation ... when his P.O. came knocking on the door.

Luckily for Mike, the officer somehow failed to sniff out the orgy (and the coke) ... and the champ's only repercussion was a rapidly deflated erection.