The dramatic footage shows Laticha Bracero and her adult daughter, 21-year-old Alyssa Cordova, walking through a crosswalk on early Feb. 14 -- right after Drake's concert in St. Louis -- when, suddenly, a car comes flying into frame, blowing through a red light and sideswiping another car before running them over.

It all happens in a flash -- and we've stopped the video to avoid showing the gruesome moment of impact -- but make no mistake ... Bracero and Cordova were obliterated.

Obviously, the fatal incident is absolutely horrific -- and worse yet, it happened a few blocks away from the Enterprise Center in downtown St. Louis, where the women had just left a Drake show ... the 2nd night of his two-show performances there in town.

The St. Louis Metropolitan Police Department says the mother died at the scene and her daughter later died at a hospital.

Cops also claim the alleged driver, 22-year-old Monte Henderson, was running red lights for several blocks and speeding in a Jeep Cherokee before running over the women and injuring several other pedestrians. They ended up finding him and arresting him shortly after this.

Henderson's been charged with two counts each of armed criminal action and involuntary manslaughter. Cops say he was speeding at over 70 MPH -- it's unclear why he might've been driving that fast ... but in any case, he has reportedly since bonded out of jail.

According to the St. Louis Post-Dispatch ... a judge overseeing his case denied a request from prosecutors to keep him locked up -- with them arguing he's a danger to the community -- and allowed to be freed on a $20,000 bail. He has since been released from custody.

The mother and daughter apparently weren't even from St. Louis -- word is, they'd traveled into town from Chicago just to catch Drizzy in person. A GoFundMe to help pay for funeral arrangements and other costs has been started in their name.