10:30 AM PT -- Just like we predicted, Diddy's kids got wind of Meek Mill's deflection and let's just say Justin Combs is severely disappointed in the Dreamchaser!!!

Meek Mill has officially ended an era -- by distancing himself from all things Diddy-related, and he did it with nothing but disgust in his voice!!!

Meek was out in the streets Wednesday and Hood Report gave him the open floor ... where he pounced on the opportunity to slander Diddy's name in the wake of the allegations that got him locked up!!!

"No Diddy Gang, Meek Milly in real life -- don't ever disrespect me, ya heard?" Meek growled for the cameras ... a moment that's sure to go viral.

The Philly rap legend has been the main celebrity brunt of Diddy jokes since "Love: Off The Grid" album producer Rodney Jones' explosive lawsuit that suggested Meek and Puff were boyfriends back in February.

Meek combated internet jokes and DJ Akademiks' disses but never addressed the Diddy allegations until today -- and he's clearly throwing Diddy under the bus.

He and Diddy have several records together and even "stunted on 'em" in matching outfits at parties over the years.

Midgepack, the man pictured in one of those twinsy flicks, also denied he witnessed anything nefarious on the "Freak-Off" tip ... and Meek is driving the final nail in his Diddy friendship coffin.

He better stay smooth in those streets ... ask Ray J, those Combs boys will run up on you for bad-mouthing their dad!!!