Cleveland Browns stars Rashard "Hollywood" Higgins and Jedrick Wills, Jr. just caught a break in their drag racing incident ... with both players pleading guilty to lesser charges of speeding on Tuesday.

As we previously reported ... 26-year-old Higgins and 21-year-old Wills were cited for drag racing in Westlake, OH on Jan. 5 ... just days before the Browns' first playoff game in nearly 2 decades.

During the stop, police claim they found a marijuana joint in Higgins' pocket ... which the wide receiver was instructed to destroy on camera, as one cop claimed it would be "bad for press."