Mike McCarthy out ... Deion Sanders in??

If Drew Pearson were running things down in Dallas, he says that's exactly the way it'd go ... telling TMZ Sports Prime should be the Cowboys' "No. 1 choice" for their vacant head coaching gig after McCarthy's Monday departure.

"I think he's capable," the Hall of Famer said of the Buffaloes' current head man. "There's no question he has the qualifications to do it. He paid his dues. He came through the ranks and he's proven it each step of the way that he knows what he's doing."

Sanders appears to be very much on Jerry Jones' radar -- in fact, multiple reports state the two already spoke about the job in the hours after McCarthy was officially deemed done in Big D.

It's not clear, however, who else Jones has in mind or where Sanders ranks on his coaching big board ... but Pearson told us the 57-year-old former Dallas defensive back should be at the top.

"He's had success in the coaching ranks, from high school to college," Pearson said. "So why can't he be a successful coach in the pros? I think he should be the No. 1 choice for the Dallas Cowboys."

If Deion ultimately stays in Boulder ... Pearson advised Jones to kick the tires on Bill Belichick -- even if the guy just signed a deal with the UNC Tar Heels.

"He would be ideal for that position," Pearson said.

No matter what happens ... five other NFL teams are currently looking for head coaches -- so Jerry better act quickly!