While attending an afterparty for the Pegasus World Cup at Gulfstream Raceway in Hollywood, Fla., Ashlee Simpson almost figured into a heartbreaking ttragedy when her five-carat wedding ring slid off her finger. Good thing, her husband was to the rescue.

They were reportedly out and about at Carousel Club, which is located right next to the racetrack and is home to DJ Cassidy, who was doing his viral "Pass the Mic" act live.

With Nicole Scherzinger and DJ D-Nice in the VIP section, Ashlee started chanting "My ring! My ring!" A spy exclaims, "It just flew off!" It seemed like she was on the verge of tears. Her pals grabbed Evan's iPhone torch and began scanning the area."

Apparently Ross went so far as "lifting up the couches and chairs, examining underneath."

Featuring 140 white diamonds and rubies, the platinum and gold ring is believed to be valued over $500,000 and has a vintage flair.

Fortunately, Neil Lane's one-of-a-kind work of art was able to surface.

Having spent nearly an hour searching, Evan finally came upon the ring in the soil, according to the insider. "He swung around and went down on one knee in front of Ashlee as if proposing" as soon as he picked it up.

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Ja Rule, Lil' Kim, Mase, El DeBarge, and Jadakiss performed during the "Pass the Mic" performance.

Rumored music entrepreneur Russell Simmons and reality actresses Alexia Echevarria and Marysol Patton were also in attendance at the event, which Life Is Good won with a $3 million prize.

Ashlee Simpson Ross certainly has a big thing for her partner and her family. Her husband is noticeably smitten with her too.

Just last year, she celebrated her 37th birthday surrounded by loved ones and she was already extremely happy about the opportunity to do so. Ashlee Simpson and her family, including her husband, Evan Ross, and their three children: Jagger Snow, 6, Ziggy Blu, 1, and Bronx Mowgli, 12, were all in attendance at a party hosted by her sister Jessica Simpson, Tracee Ellis Ross, and Ashlee's ex-husband, Pete Wentz.

It was captioned, "BIRTHDAY LOVE," and featured a photo of her blowing out her candles while donning a "Party Time" crown. Evan, 33, wrote on his Instagram, "HAPPY BIRTHDAY MY LOVE. What an amazing DAY it was. YOU ARE EVeRYTHING ."

The two are obviously very much in love, despite being togehr for years already.

For Evan's birthday in August, Ashlee shared a nude photo of her husband on Instagram, gushing about him to her followers and calling him the "love of my life" in a romantic tribute. One of the images showed him standing naked in a shower. Ashlee also posted a black-and-white photo of the couple holding hands while walking in a garden.

"Your spirit is truly infectious, and I'm so lucky to spend every day with you," she wrote in a note to Ross. "33 baby."