His publicist sent the following EMAIL BLAST OUT! This is sooooo wrong. Obviously a publicity STUNT:

Nick Cannon and Selita Ebanks are engaged to be married. The actor proposed to his Victoria Secret angel on one knee with a 12 carat diamond ring immediately after they left the Metropololitan Museum of Art Costume Gala where they were chauffered in a Rolls Royce Phantom to Time Square. Projected on the giant MTV jumbotron were the words, "Selita will you marry me?" The happy couple immediately celebrated afterwards at Butter with Cannon suprising Ebanks by flying in his mother, both her parents and best friends into town. Guests including Marc Ecko, Tommy Hilfiger, Jacob the Jeweler, Zach Braff and Young Jeezy who enjoyed red velvet cake, free flowing champagne, budweiser select and evian. The jetsetting couple left the party at 3am so that they could catch a private plane back to LA that Nick had charted so that he could make a 9am call time for his new film, American Son.
Photos can be obtained from Polaris.