The star-studded affair was taped Saturday at the Barker Hangar in Santa Monica but aired Monday night. Jada Pinkett Smith (Trailblazer Award) and The Rock (Generation Award) were just some of the honorees. Hollywood's heavyweights rolled through ... from Tiffany Haddish and Tessa Thompson to Elisabeth Moss and Melissa McCarthy.

But, things got off to an awkward start during Zachary's opener when he decided to go there. As Princess Love and Ray J sat side by side ... Zachary delivered a Kim Kardashian sex tape joke.

Check out the clip ... Ray J stands up when he hears his name but moments later is reduced to sitting with a blank stare on his face after Zachary's punch line. Princess Love was none too amused ... giving cameras the double bird.