Diddy's Defense Says He Won't Call Escorts If He's Released on Bond

The Diddy case started with prosecutors claiming he was a racketeer and sex trafficker who was blowing up cars and distributing drugs ... but now it's been reduced to transporting prostitutes across state lines -- and his team says that's not enough to keep him locked up before sentencing.

Diddy's legal team just fired off a letter to Judge Arun Subramanian outlining the reasons why they say he should be released from federal custody.

In the docs, obtained by TMZ, Diddy's defense says the jury "unambiguously rejected the government's allegations that Mr. Combs ran a years-long criminal enterprise or engaged in sex trafficking -- the core of the government's case."

Diddy's defense argues he's not a flight risk ... and they say he's behaved and shown up to court hearings like a model inmate. They say "reasonable conditions would ensure" Diddy would NOT have the ability to arrange meetings with escorts.

The conditions the defense proposes ... $1 million bond, drug testing, travel restricted to Florida, California and New York, and surrendering his passport.

Prosecutors want Diddy locked up before sentencing ... but his defense says it's rare for Mann Act convictions to warrant detention pending sentencing.

The judge will consider arguments from the defense and prosecution before making a final decision, which he says will come down around 5 PM ET.