iLoveMakonnen 'Tuesday' Rapper Beat Up On Tuesday Attacker Id'd & Punished [VIDEO]

10/23/2014 2:55 PM PDT

iLoveMakonnen -- 'Tuesday' Rapper Beat Up On Tuesday (VIDEO) ... Attacker Identified and Punished

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Rapper iLoveMakonnen went DOWN on Tuesday night -- instead of "goin' up" like he says in his hit song -- when he was attacked on stage by a fan.

iLoveMakonnen was performing his hit 'Tuesday' at SOB's in NYC ... when a large man in a grey hoodie walked up to the front of the stage (:08 in the video), and then grabbed the rapper and started throwing haymakers.

Watch the clip ... after getting in several hard shots, the attacker actually managed to slip away -- but sources inside the club tell TMZ the owners know exactly who the guy is ... and describe him as a "jealous fan." We're told he's been banned for life.

Cops never got involved -- no one called 'em -- and iLoveMakonnen wasn't seriously hurt.