Instagram / @djkhaled

DJ Khaled & 'Pee' Thomas Yes, We're Millionaires ... But $1.2 Bil Lottos Don't Come Often!!!

DJ Khaled and Quality Control CEO Pierre “Pee” Thomas are some of the most respected, and highly paid, moguls in hip hop -- but even they have no shame in their game hopping on the Mega Millions craze.

Tonight's drawing is up to $1.28 billion and if anyone's got a winning ticket it'll easily change their lives in an instant.

Perhaps wisely, Khaled's viewing the drawing as a great opportunity to promote his next album, "God Did." He posted a vid yelling ... "They didn’t believe in us -- God Did” as he flashes stacks of Mega Millions tickets.

Previously, he'd been relying on Drake, Lil Baby and Jay-Z to hype his album. We're thinking the lotto tickets gotta be at least as effective as them.

Khaled's post certainly gets approval from Pee -- the QC shot caller was busy Friday defending his own purchase of a bunch o' $2 MM tickets.

Khaled is a regular on Forbes’ “Hip Hop Cash Kings” list and Pee is making open bids for 300 Entertainment … so neither guy needs the extra revenue.

Still, it's damn hard to pass on a billion-dollar gamble!

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