Two NFL players -- including a 2019 1st round draft pick -- have been accused of armed robbery and arrest warrants have been issued, TMZ Sports has learned.

Law enforcement confirms NY Giants cornerback Deandre Baker (the 30th overall pick in 2019) is facing 4 charges of armed robbery and 4 charges of aggravated assault with a firearm.

Seattle Seahawks corner Quinton Dunbar is facing 4 counts of armed robbery.

According to police, the two men were partying in Miramar, FL on May 13 ... when things took a disturbing turn.

Cops say Baker and Dunbar were allegedly hanging at a cookout -- playing cards and video games -- when an argument broke out and Baker whipped out a semi-automatic firearm.

Cops say the men began to rob party guests ... with Dunbar assisting in taking watches and other valuables at the direction of Baker.

At one point, cops say Baker directed a 3rd man -- who was wearing a red mask -- to shoot someone who had just walked into the party ... but fortunately, no one was actually shot.

Law enforcement says the men made out with more than $7,000 in cash -- along with several valuable watches including an $18,000 Rolex watch, a $25,000 Hublot and a pricey Audemars Piguet timepiece.

There are conflicting reports from witnesses about whether Dunbar was armed with a gun -- some say he was, others say he was not.

One witness told cops they had met Baker and Dunbar at a party a few days earlier in Miami -- at which the NFL players had "lost" around $70,000.

Our sources tell us the men had "lost" the money in high-stakes card games and other forms of gambling.

One witness told cops the men were gambling again at the May 13 event ... when an argument broke out and Baker allegedly flipped a table and busted out his piece.

According to cops, some people at the party believe it was a planned robbery because when the 3 men were done taking valuables, there were 3 getaway cars strategically positioned to "expedite an immediate departure."

FYI, the alleged getaway cars were SICK -- a Lamborghini, a Mercedes-Benz and a BMW.

The Miramar Police Dept. says warrants for the two NFL players' arrests have been issued ... though neither player is currently in custody.

Cops tell us they have been in contact with reps for the suspects and they're currently working on a planned surrender.

22-year-old Baker -- a former Georgia Bulldog superstar -- was picked with the 30th overall selection in the 2019 NFL Draft and is expected to compete for a starting job on the Giants this season.

27-year-old Dunbar, meanwhile, was just traded from Washington to the Seahawks in March after starting 25 games for the Redskins from 2015-2019. He's also expected to compete for starter's minutes in Seattle.