Play video content EXCLUSIVE TMZ.com

This is NOT what Larry the Cable Guy meant by "Git-R-Done" -- but he damn near broke his opponent's limb in half during an arm wrestling competition.

The video is intense to say the least -- and it went down at the University of Nebraska football game last Saturday in Lincoln. Larry, a huge Huskers fan, and the guy -- an army vet named John -- were in a luxury suite, and we're told John challenged the comedian.

Just watch, it's a very close competition. Until it isn't ... and John's arm breaks.

We're told he had surgery to put a plate in his arm, and he's as okay as he can be today.