TMZ Sports has obtained the 911 call Tim Donaghy made while trying to bring his daughter home in Manatee County, Florida ... featuring 2 full minutes of hammer-wielding chaos.
The ex-NBA ref tells the dispatcher he's on a mission to save his daughter ... who he claims is being held against her will at a house with marijuana and is "stoned out of her mind."
Donaghy describes the scene as hostile, saying the parents at the house are screaming and yelling at him. He warns ... "There's about to be a major altercation."
That's when Tim reveals he's got a hammer on him and is ready to throw down ... or as he puts it, "If anyone comes near me, I will crack him right in his f*cking head."
Donaghy tells the 911 operator it's too dark to describe the people involved, but is adamant he needs help quickly ... before things go south.
We broke the story ... Donaghy -- who went to prison for trying to fix games he officiated -- was arrested for threatening a man with the hammer, but insists the tool was for protection and he was just trying to be a good dad and save his daughter.