11:40 AM PT -- The NYPD tells TMZ ... the second suspect, a 17-year-old male, was arrested and charged on Thursday in Queens on 2 counts of first-degree criminal mischief and 1 count of first-degree reckless endangerment.

Two people are accused of going for an underground joy ride ... with police arresting one and searching for the other after they say the duo tried to operate a subway train -- but, ultimately crashed.

New video, released by the NYPD, shows two people -- a man and a woman -- in a dark subway car in Queens last week. The woman is wearing an all-pink outfit, complete with a pink shower cap. The man's in a blue tank top and red athletic shorts.

The video only shows the two walking through the car ... but, cops say they then tried to play conductor -- getting the subway to move about 50 feet before crashing it.

Cops announced they've arrested the woman in the clip ... taking her into custody Wednesday. They say she's 17 years old and they've charged her with first-degree criminal mischief and first-degree reckless endangerment.

Police say they're still looking for the dude in the tank top and shorts.

Demetrius Crichlow, interim president of New York City Transit, called the theft "an extremely foolish and reckless act" during a press conference earlier in the week.

Moral of the story ... stand clear of the closing doors -- and, stay the hell away from the controls!