5:38 PM PT -- Jeffree says he's in "excruciating pain" after suffering fractures in his spine as a result of the crash, which he calls one of the "scariest moments" in his entire life.

The good news ... Jeffree says he's grateful to be alive and his doctor expects him to make a full recovery, though it might take a few months to get back to speed.

1:35 PM PT -- Cops say Jeffree was behind the wheel at the time of the crash, and thankfully, both were wearing seatbelts.

12:35 PM PT -- Wyoming Highway Patrol tells TMZ ... preliminary findings suggest drugs and alcohol do NOT appear to be a factor in the crash, though the investigation is ongoing.

We're told the crash happened around 8:30 AM on Hat 6 Road, with the Rolls Royce Jeffree was riding in losing control and rolling over after experiencing slushy road conditions.

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