The constitutive models of materials are pushed to their limits in a wide range of service scenarios, each with a unique stress state, strain rate, and temperature coupling. This paper successfully captured the stress state sensitivity of amorphous alloys using the free volume theory and the Drucker–Prager yield criterion. The varying yield surface and shear band angle as the dilation coefficient changes are well captured by the FEM simulations. The model can also accurately portray the influence of the stress state, as well as the difference of shear-induced dilation between the tension and compression. This model can facilitate the application of amorphous alloys in complicated local stress states at a large scale and structural level, such as in chiral mechanical metamaterials and gear structures.