Gypsy Rose Blanchard says the Menendez Brothers should pump the brakes before going full Hollywood if they are released from prison ... advising them to enjoy their freedom first.

Gypsy was at LAX Monday night when a photog asked what advice she would give Erik and Lyle if they become free men.

The Menendez Bros are pretty famous and Hollywood is waiting with tons of opportunities, but Gypsy says Erik and Lyle would be wise to take some time to themselves to adjust to life on the outside before getting in front of cameras.

Gypsy dove straight into the media frenzy when she was released from prison a little over a year ago ... and she explains why that's something she regrets.

The Menendez Brothers were on the '2 Angry Men' Podcast, and talked about what they wanted to do with their lives if they get out.

Hollywood will always be there, Gypsy says, and she thinks Erik and Lyle could still get their own show down the line ... if they ever become free men. No matter how long it takes, Gypsy says she will tune in so the brothers can bide their time.

It could be a while before Erik and Lyle are freed ... new L.A. County D.A. Nathan Hochman didn't exactly give them a ringing endorsement in his latest comments on the case.

The possibility is still out there, though, and Gypsy's also got advice for how to handle romantic relationships ... give the clip a listen.